Hester Biosciences net profit up 39% in Q2 FY17

The company has recommended interim dividend of INR 3 per share (30% on face value of INR 10 per share).

Oct 20, 2016 01:10 IST India Infoline News Service

India’s leading animal healthcare company, Hester Biosciences Limited has reported the following Q2 FY17 results:

Q2 Highlights
1. Hester has reported a Net Sales of INR 29.63 Cr in Q2FY17 as compared to INR 24.01 Cr for the previous corresponding period, thereby registering a growth of 23%.
2. Net Profit for Q2FY17 is recorded at INR 5.97 Cr as against INR 4.30 Cr for the previous corresponding period, thereby registering a growth of 39%.
3. Earnings Per Share for the Q2FY17 is at INR 7.02 as against INR 5.05 for Q2FY16.

H1 Highlights
1. Hester has reported a Net Sales of INR 59.76 Cr in H1FY17 as compared to INR 48.53 Cr for the previous corresponding period, thereby registering a growth of 23%.
2. Net Profit for H1FY17 is recorded at INR 11.97 Cr against INR 8.96 Cr for the previous corresponding period, thereby registering a growth of 34%.
3. Earnings Per Share for H1FY17 is at INR 14.07 as against INR 10.53 for the H1FY16.  

Dividend
Company has recommended interim dividend of INR 3 per share (30% on face value of INR 10 per share).

Business Outlook
Nepal plant is slated to commence commercial production on 15 November 2016.
Sales in poultry division grew by 20% while in the Large animal division it grew by 55% in H1. This is in line with our projections.
Domestic sales grew by 24% while exports grew by 16%. We are short on our export targets, which we hope to recover in H2, more so with Nepal exporting vaccines to Africa.
Animal diagnostics is our next focus area. We hope to launch our animal diagnostics division in the fourth quarter, thereby becoming one the few animal health companies worldwide, covering preventive, curative, growth promoting products as well as diagnostics. 

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