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Animal healthcare player, Hester Biosciences Limited, posted standalone net profit of ₹12 crore for the second quarter ended September 30, 2021, about 16 per cent higher than ₹10 crore reported in the corresponding quarter a year ago.
Standalone revenues from operations stood at ₹57 crore as against ₹54 crore in the same quarter last year.
Its vaccine sales grew by 13 per cent during the second quarter, while animal health products saw a growth of 31 per cent during the quarter. The domestic sales have registered a growth of 21 per cent, while there was a marginal decrease in export sales during the quarter.
“The export orders are affected due to restricted cargo movements globally,” the company informed.
The growth in profits is attributed to the focus on manufacturing expenses and fund management. Its EBITDA margins came under pressure at 30.28 per cent during the quarter as against 32.59 per cent same period last year.
“There have been fluctuations on the gross margins and EBIDTA due to the rationalisation of the product mix and an increased contribution of health products to the overall product portfolio,” the company added.
Additional directors
The board of directors also approved the appointment of two additional directors, Priya Gandhi and Ameet Desai, to the board.
Hester Biosciences shares ended at ₹2,428.65, down 1.53 per cent on BSE on Thursday.
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