The pharmaceutical company received board's approval for grant of Rs 60 crore to the company by Biotechnology Industry Research Assistance Council (BIRAC), a Government of India Enterprise to support COVID vaccine manufacturing under Mission Covid Suraksha.
Hester Biosciences is one of India's leading animal healthcare companies and is the second largest poultry vaccine manufacturer in the country.
The company reported 31% fall in consolidated net profit to Rs 8.48 crore on a 2% decline in revenue from operations to Rs 55.69 crore in Q3 FY22 over Q3 FY21.