Transgene in the red

Transgene Biotek Ltd reported a net loss of Rs 2.85 lakh for the three months ended March 31, 2011, mainly due to Rs 51 lakh additional expenditure on account of currency fluctuation. Sales revenues were Rs 7.23 crore, while expenditure was Rs 6.58 crore. The profit and revenues in the same quarter of 2009-10 were Rs 15.55 lakh and Rs 1.1 crore respectively.

For the full year of 2010-11, the company registered a net profit of Rs 14.84 lakh, a decline of 61 per cent from Rs 38.16 lakh in the previous fiscal. Revenues during the year grew nearly three-fold to Rs 10 crore (Rs 3.98 crore). The bulk drug division accounted for 70 per cent of its annual revenues, with the rest coming from diagnostic services.