Panacea Biotec registers 79% growth

NEW DELHI: Delhi-based biotechnolgy company Panacea Biotec has announced that it has registered 79% growth in net turnover during the third quarter ended December 31, 2006 to Rs 1,971 million compared with Rs 1,100 million during same period of previous financial year. Net profit for the third quarter jumped 422% to Rs 271 million compared with Rs 52 million during the corresponding quarter of previous year.

During the nine months ended December 2006 the net turnover registered a 51% growth to Rs 6,048 million compared with Rs 4,012 million during corresponding nine months of the previous year. The net profit during the same period grew by 150% to Rs 1,234 million as compared to Rs 495 million during the corresponding nine months of previous year.

During the quarter ended 31 December, 06 the company's Earnings before Interest, Tax, Depreciation and Amortisations increased to Rs 488 million registering growth of 133%. Profit before Tax increased to Rs 385 million registering growth of 176% compared to corresponding quarter of previous year.