“This royal bird with faithful thought For my advantage strove and fought. Slain by the fiend in mortal strife For me he yields his noble life. See, Lakshmaṇ, how his wounds have bled; His struggling breath will soon have fled.

In plain words: Rama tells Lakshmana that this loyal bird fought for him and is giving his life for him. He points out the bleeding wounds and says the bird will soon die.