Panacea Q4 net at Rs 57 cr; FY'10 profit at Rs 80 cr

NEW DELHI: Drug maker Panacea Biotec today said it has posted a net profit of Rs 57.52 crore for the fourth quarter ended March 31, 2010.

The firm had reported a net loss of Rs 40.17 crore during the same period of the previous fiscal.

The company's total income stood at Rs 328.67 crore for the fourth quarter ended March 31, while the same was Rs 228.22 crore in the same period of corresponding fiscal, Panacea said in a statement.

"We'll strive to remain globally and regionally attractive to customers and investors. Our historical success in developing products, projects and exploring new opportunities will remain hallmarks for the future," Panacea Biotec Joint Managing Director Rajesh Jain said.

The company has recommended a dividend of 25 per cent or Rs 0.25 for FY'10.

Panacea Biotec reported a net profit of Rs 80.02 crore for the year ended March 31, 2010, while it had a net loss of Rs 69.05 crore in the previous fiscal.

For the year ended March 31, 2010, the company posted a total income of Rs 909.77 crore, while the same was Rs 780.62 crore in the corresponding fiscal.

Shares of Panacea today closed at Rs 224.95 on the BSE, down 4.20 per cent from previous close.