Hester Biosciences net profit rises 8 percent at Rs 13 crore in Q3
The company''s developmental activities are ongoing for the human COVID-19 vaccine with IIT Guwahati, it added.
New Delhi: Leading animal healthcare firm Hester Biosciences on Saturday reported a 7.7 per cent rise in its consolidated net profit to Rs 12.86 crore for the quarter ended December 31, 2020.
The company had posted a profit of Rs 11.94 crore for the corresponding period of the previous fiscal, Hester Biosciences said in a filing to the BSE.
Consolidated net sales of the company stood at Rs 56.89 crore for the quarter under consideration. It was Rs 50.69 crore for the same period a year ago, it added.
The company''s board has also approved, "issuance of equity shares, and/or equity linked securities and/or securities convertible into equity shares through Qualified Institutional Placement (QIP) or preferential allotment for an amount not exceeding Rs 200 crore...," the filing said.
The company''s developmental activities are ongoing for the human COVID-19 vaccine with IIT Guwahati, it added.
The company is evaluating expansion opportunities in manufacturing and distribution of animal health products and biologicals, worldwide, Hester Biosciences said.
The company is also set to launch a new range of herbal health products in the current quarter, it added.
