CORPORATE
Hester Biosciences’ consolidated net profit for Q1 of FY24 grows by 88%
- IBJ Bureau
- Aug 11, 2023
Hester Biosciences, one of India’s leading animal health companies manufacturing vaccines and health products, has reported consolidated net profit growth of 88 per cent of Rs 6.71 crore in Q1 of FY24 ended June 2023 as against net profit of Rs 3.56 crore in Q1 of FY23.
The company reported revenue from operations of Rs 87.85 crore for the period under review, registering growth of 73 per cent Y-o-Y as compared to revenue of Rs 50.70 crore in Q1 of FY23. Operating profit during Q1 of FY24 ended June 2023 was reported at Rs 14.36 crore, recording 93 per cent growth Y-o-Y from Rs 7.43 crore in Q1 FY23. EPS for Q1 of FY24 was reported at Rs 7.89 per share.
Consolidated results include operations of subsidiaries from Nepal and Tanzania. Hester Nepal had a turnover of Rs 6.54 crore primarily from exports of vaccines with overall net profit of Rs 3.67 crore during Q1 of FY24.Hester Africa has registered export sales of Rs 1.76 Crore.
Overall gross profit margin for Q1of FY24 reduced by 7 per cent due to the change in product mix. Health products and other pharmaceutical products contributed 56 per cent of total sales in Q1 of FY24 as compared to 34 per cent in Q1 of FY23. EBITDA for Q1of FY24 has improved by 24 per cent over Q1of FY23 due to healthy growth in overall sales.
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