Panacea Biotec, a second largest vaccine producer in India, has suffered severe jolt during the year ended March 2012 on account of delisting of DTP based combination and monovalent hepatitis B vaccines by WHO. The company incurred a heavy consolidated net loss of Rs.205.65 crore as against net profit of Rs.144.67 crore in the previous year. Its loss before depreciation, interest, tax and adjustment amounted to Rs.69.37 crore as against profit of Rs.276.74 crore. The company skipped the dividend due to lack of profits for the year 2011-12.
Its consolidated net sales also declined by 39 per cent to Rs.697.80 crore from Rs.1,143.42 crore. Its sales of vaccines declined by 56.7 per cent to Rs.368.05 crore from Rs.850.83 crore and that of formulations improved marginally to Rs.333.52 crore from Rs.300.73 crore. The company launched two new products viz., Pangraf 0.25 and Vagacyte 450 for renal disease management in the last quarter of FY'12.
The company's other operating income declined to Rs.13.45 crore from Rs.27.02 crore and its interest burden went up sharply to Rs.95.26 crore from Rs.51.27 crore. The net loss before tax reached at Rs.255.25 crore as compared net profit of Rs.154.37 crore. It show tax income of Rs.54.13 crore during 2011-12 as against tax expenditure of Rs.21.89 crore.