Panacea net profit doubles; recommends 100 pc dividend

New Delhi, May 22 (UNI) Pharma major Panacea Biotec Ltd (PBL) today announced that its net profit for the quarter ended March 31, 2006 increased by 56 per cent at Rs 11 crore as against Rs 7 crore in the corresponding period last year, recommending a dividend of 100 per cent.

The net turnover in Q4 of 2005-06, grew by 59 per cent at Rs 135 crore from Rs 85 crore during the same period a year ago.

Panacea's net profit for the financial year 2005-06 doubled to Rs 61 crore from Rs 30 crore in 2004-05.

''There is a growth of 103 per cent in our net profits and the earning per share of Re 1 fully paid share increased by 124 per cent to Rs 9.86 from Rs 4.40 during the last financial year. The board of directors have recommended a dividend of 100 per cent,'' PBL Director (Operational and Projects) Sumit Jain told reporters here.

The net turnover of the company reported a rise of 65 per cent to Rs 536 crore during FY06 against Rs 326 during FY05.

UNI CS PV PM1607