Foreign Exchange Gains Propel Hester Biosciences to Profit Surge
Hester Biosciences Ltd reported a nearly three-fold increase in profit for the December quarter of 2024-25, boosted by foreign exchange gains. Despite a 6% dip in revenue, unrealised foreign exchange gains of Rs 7.83 crore aided results. The company plans to drive growth with an Avian Influenza vaccine launch.
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- Country:
- India
Hester Biosciences Ltd announced a significant profit surge for the December quarter of 2024-25, attributing the growth to favourable foreign exchange fluctuations. Profit after tax soared to Rs 11.41 crore, a threefold increase from the same period last year.
Despite a 6% decline in revenue from operations, which stood at Rs 63.22 crore, the company's financial health was bolstered by unrealised foreign exchange gains amounting to Rs 7.83 crore. Rajiv Gandhi, CEO and MD, highlighted the diversification in performance across divisions.
Moving forward, Hester Biosciences is set to focus on expanding its bottom-line targets and enhancing its Poultry Healthcare Division. The anticipated release of an Avian Influenza vaccine this year is expected to open new export markets, although shares dropped slightly by 1.6% to Rs 2,064 on BSE.
(With inputs from agencies.)