kṛpayā bhūta-bhāvanaḥ

tatah-thereafter; karatali-krtya-taking in his hand; vyapi-widespread; halahalam-called halahala; visam-poison; abhaksayat-drank; maha-devah-Lord Siva; krpaya-out of compassion; bhuta-bhavanah-for the welfare of all living entities.