India-based animal health company Hester Biosciences Limited reported a 39 percent increase in net profit for the second quarter of fiscal year 2017, as well as a 23 percent increase in net sales for the quarter.
In a press release issued on October 20, Hester reported that its net profit for the quarter was INR59.69 million (US$893,955), while its net profits for the second quarter of the previous fiscal year was INR42.97 million (US$643,546).
The company reported its net sales at INR296.3 million, increasing from the INR240.05 million reported during the same quarter one year ago.
For the first half of fiscal year 2017, Hester’s net profit is up 34 percent at INR119.68, while its net sales are up also 23 percent reaching a figure of INR597.62 million. The company further reported that sales in its poultry division were up 20 percent for the first half of the fiscal year, while sales in its large animal division grew by 55 percent.
Headquartered near Ahmedebad, Gujarat, India, Hester Biosciences has a product range that includes vaccines for poultry and cattle, health products and diagnostics. Its services include seroprofiling for poultry flocks and mastitis control programs for cattle. Hester Biosciences has been in business since 1997.