Panacea June quarter net profit zooms two-fold to Rs 32 cr

NEW DELHI: Drug-maker Panacea Biotec on Tuesday said net profit surged over two-fold to Rs 32.55 crore for the quarter ended June 30.

Total income of the company increased to Rs 258.41 crore for the quarter ended June 30, compared to Rs 180.85 crore in the same period of the previous fiscal, Panacea Biotec said in a statement.

"In addition to consolidation of our business in existing markets, we have opened up new international markets like Brazil and Philippines in this quarter, which has contributed to growth," Panacea Biotec Joint Managing Director Rajesh Jain said in a statement.

Shares of Panacea Biotec today closed at Rs 192.85 on the Bombay Stock Exchange, up 4.02 per cent from the previous close.