Drug firm Panacea Biotec today said its net profit declined by 48.63% to Rs 16.72 crore for the quarter ended June 30, 2011 over the same period previous fiscal.
The company had posted a net profit of Rs 32.55 crore for the quarter ended June 30, 2010, Panacea Biotec said in a filing to the Bombay Stock Exchange (BSE).
Total income of the company declined to Rs 225.69 crore for the quarter ended June 30, 2011 from Rs 258.41 crore for the corresponding period previous fiscal.
Commenting on the results, Panacea Biotec Joint Managing Director Rajesh Jain said: "The nature of our business does not allow uniform result and growth on quarterly basis. It is more rational to measure the performance on yearly basis".
During the quarter the company launched eight new products, Panacea Biotec said.
Shares of Panacea Biotec today closed at Rs 170 on BSE, up 0.92% from its previous close.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app