Panacea Biotec Ltd has reported 135 per cent increase in its net profit to Rs 27.69 crore for the quarter ended December 2003 as against Rs 11.78 crore reported in the corresponding quarter ended December 2002. The total income of the company increased by 4 per cent to Rs.103.89 crore for the present quarter as against Rs 102.32 crore reported in corresponding quarter of the previous year.
The operating profit of the company has gone up by 97 per cent to Rs. 33.53 crore in the present quarter as against Rs.16.98 crore reported in the corresponding quarter of the previous year. The company’s formulations segment posted 12 per cent rise in sales to Rs 30.34 crore for the quarter ended December 2003 as against Rs.27.14 crore reported for the corresponding period last year.
The company has recently launched the first ever Piles Management System through its ThankGod product range across the country through 6500 outlets, which includes ThankGod Relief Capsules, Anytime Cream & Ispaghula Husk. The company has pioneered this category, by offering a complete range of products to take care of the discomfort caused by piles. The other products launched during the quarter are Awayke MD (Anti-allergic), Well-Beeing (for Menstrual Pain) & Toff MD Tablets (for Cough & Cold) and Ecovac-4 (a combination Vaccine containing DTPw & Hepatitis B Antigen).