ThinkStock PhotosRelated
NEW DELHI: Animal healthcare firm on Thursday reported about two-fold jump in consolidated net profit at Rs 11.01 crore for the quarter ended June 30, 2021 on account of robust sales.
The company had posted a net profit of Rs 5.05 crore for the year-ago period, Hester Biosciences said in a regulatory filing.
Revenue from operations stood at Rs 60.18 crore in the quarter under review. It was Rs 39.85 crore in the same period a year ago, it added.
The company, along with Gujarat Biotechnology Research Centre, has entered into a term sheet dated June 28, 2021 towards the licensing agreement with Bharat Biotech International Ltd (BBIL) to manufacture the drug substance for Covaxin, the filing said.
"Under the arrangement, the company will build the BSL-3 facility suitable for manufacturing the drug substance for Covaxin. The project is progressing as per the timeline," it added.
The company has also signed an agreement with IIT Guwahati to develop a vaccine against COVID-19, the filing said.
"IITG is working towards developing the recombinant vaccine candidate, based on which, Hester shall take the project further from developing the master seed up to commercially manufacturing the vaccine," it added.
Shares of Hester Biosciences were trading at Rs 2,455.30 per scrip on BSE, up 11.52 per cent from the previous close.
The company had posted a net profit of Rs 5.05 crore for the year-ago period, Hester Biosciences said in a regulatory filing.
Revenue from operations stood at Rs 60.18 crore in the quarter under review. It was Rs 39.85 crore in the same period a year ago, it added.
The company, along with Gujarat Biotechnology Research Centre, has entered into a term sheet dated June 28, 2021 towards the licensing agreement with Bharat Biotech International Ltd (BBIL) to manufacture the drug substance for Covaxin, the filing said.
"Under the arrangement, the company will build the BSL-3 facility suitable for manufacturing the drug substance for Covaxin. The project is progressing as per the timeline," it added.
The company has also signed an agreement with IIT Guwahati to develop a vaccine against COVID-19, the filing said.
"IITG is working towards developing the recombinant vaccine candidate, based on which, Hester shall take the project further from developing the master seed up to commercially manufacturing the vaccine," it added.
Shares of Hester Biosciences were trading at Rs 2,455.30 per scrip on BSE, up 11.52 per cent from the previous close.
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.