Panacea Biotec reported total income of INR 111 crores during the period ended June 30, 2022 as compared to INR 132 crores during the period ended June 30, 2021 thereby depicting a dip of 16% on consolidated basis. While the net profit grew by 2% from INR -57.35 crores for the period ended June 30, 2021 to INR -56.14 crores for the period ended June 30, 2022. The decline in revenues is mainly on account of absence of sales of pharmaceutical formulations which contributed INR 49.38 Crores during Q1FY23.
Meanwhile, the company has reported EPS of Rs.-9.17 for the period ended June 30, 2022 as compared to Rs.-9.36 for the period ended June 30, 2021. The vaccines constituted 55.4% of the total revenues while the formulations accounted for 44.6%. Also sudden spike in material cost led to such plummet in net profits of the company. After resolving its debt and reinstating the capital in its development, the company is on its track to lead the pharma sector in India.
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