Reports net profit of Rs 10.16 Cr and revenue from operations of Rs 123.85 Cr
Hester Biosciences Ltd has reported a consolidated revenue of Rs 73.15 crore in Q2FY23, a growth of 17 per cent YoY. The company has achieved the highest quarterly sales in its history. The substantial increase in the current quarter sales has offset the degrowth in Q1 FY23.The increase in sales largely attributes to a spurt in the demand for the Goat Pox Vaccine to control the outbreak of Lumpy Skin Disease (LSD) in cattle in the country.
With no specific vaccine available for LSD in India, Goat Pox Vaccine was permitted for use as a heterologous vaccine to immunise cattle against LSD. Hester has been and continues to be the dominant supplier of the Goat Pox Vaccine to various State Government bodies and in the private sector. The company’s vaccine sales have increased by 24 per cent in Q2 while it shows a degrowth in H1 due to significant low sales in Q1 for poultry vaccines.
