 "Panacea Biotec dips as Q1 loss widens")
Shares of Panacea Biotec have tanked by 14% to Rs 137 on the National Stock Exchange (NSE) in an otherwise firm market after the company reported widening of net loss to Rs 36.90 crore in the quarter ended June 30 due to lower operational income.
The company had posted a net loss of Rs 23.54 crore for the corresponding period of the previous fiscal. It had reported a loss of Rs 31.39 crore in the March quarter, Panacea Biotec said in a filing to BSE.
The company's standalone total income from operations declined by 17% at Rs 125 crore in the quarter against Rs 151 crore in the same period a year ago.
At 12:51 PM, the stock was down 12% to Rs 140 on the NSE. A combined 219,038 shares changed hands on the counter on the NSE and BSE.
The company had posted a net loss of Rs 23.54 crore for the corresponding period of the previous fiscal. It had reported a loss of Rs 31.39 crore in the March quarter, Panacea Biotec said in a filing to BSE.
The company's standalone total income from operations declined by 17% at Rs 125 crore in the quarter against Rs 151 crore in the same period a year ago.
At 12:51 PM, the stock was down 12% to Rs 140 on the NSE. A combined 219,038 shares changed hands on the counter on the NSE and BSE.