Panacea Biotec posts loss of Rs 54 cr in Q4

NEW DELHI: Drug firm Panacea Biotec on Wednesday reported a consolidated net loss of Rs 54.14 crore for the quarter ended March 31, 2021

The company had posted a net loss of Rs 69.70 crore for the corresponding period of the previous financial year, Panacea Biotec said in a BSE filing.

The consolidated total income of the company stood at Rs 173.17 crore for the quarter under consideration. It was Rs 143.34 crore for the same period a year ago, it added.

For the financial year ended March this year, the net loss of the company stood at Rs 147.65 crore. It was a loss of Rs 194.29 crore for the previous fiscal year, Panacea Biotec said.

The total income of the company was Rs 634.79 crore for the financial year ended March 2021. It was Rs 573.75 crore for the year-ago financial year, it added.

The company's board has approved raising of funds through one or more permissible mechanisms as may be deemed appropriate by the board, for an amount up to and not exceeding Rs 1,200 crore or it is equivalent in any other currency(ies), in one or more tranches, the filing said.

"In view of losses, the board of directors has not recommended any dividend on the preference as well as equity shares of the company for the financial year ended March 31, 2021," it added.

Shares of Panacea Biotec closed at Rs 415.30 per scrip on BSE, up 0.12 percent from its previous close.