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Hester records 10 per cent growth in Q3 FY18

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Net profit for Q3 FY18 is recorded at Rs 6.50 crore as against Rs 5.82 crore for the previous corresponding period

Hester has reported a net sales of Rs 31.92 crore in Q3 FY18 as compared to Rs 29.09 crore for the previous corresponding period, thereby registering a growth of 10 per cent. Net profit for Q3 FY18 is recorded at Rs 6.50 crore as against Rs 5.82 crore for the previous corresponding period, thereby registering a growth of 12 per cent. Earnings Per Share for the Q3 FY18 is at Rs 7.64 crore as against Rs 6.84 crore for Q3 FY17.

Domestic sales grew by 10.49 per cent while exports grew by 17.62 per cent in Q3 FY18. Exports have grown marginally, lesser than budgeted. By the end of the year, we hope to see an increase in exports as we have rationalised as well as increased our production capacities to ensure a proper flow of products for exports, besides additional registrations having been received from a few African countries.

Nepal plant registered a turnover of Rs 0.37 crore for Q3 FY18 and Rs 0.99 crore for nine months FY18. There is a net loss of Rs 5.06 crore for nine months FY18. Having received market authorisations just this month for selling in Nepal, the sales are forecasted to grow. Standardisation of most of the products has been completed. International tenders for PPR vaccine procurement are yet to pick up, which is the main cause for the lower sales.

Operation of Hester India having grown by 10 per cent, we have addressed all capacity related issues to ensure a higher growth. Geographical territories within India have been added in the large animal divisions. Domestic tender business in Q4 would also lead the sales in the large animal vaccine division.

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