Express Pharma

Zenotech Labs registered as sick company with BIFR

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The firm has reported a loss of Rs 5.12 crore in the first quarter of this fiscal

Telengana-based Zenotech Laboratories has been registered as a sick firm with the Board for Industrial and Financial Reconstruction (BIFR).

Pursuant to the reference filed by the company under the provisions of Section 15 (1) of Sick Industrial Companies (Special Provisions) Act, 1985, the company has been registered as a ‘Sick Industrial Company’ with BIFR,” Zenotech Laboratories said in a filing to the Bombay Stock Exchange (BSE).

The firm has been posting losses in successive quarters. In the first quarter of this fiscal it had a loss of Rs 5.12 crore. In the fiscal 2014-15, its loss was at Rs 30.41 crore. As on quarter ending June 30, Sun Pharma held 46.84 per cent stake in Zenotech while Daiichi Sankyo held 20 per cent, as per latest data available on BSE. Zenotech Laboratories shares on Tuesday closed at Rs 39.35 on BSE, down 4.95 per cent from previous close.

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