Bafna Pharmaceuticals, (BSE Code: 532989), Chennai-based pharma company, engaged in the manufacturing of pharmaceutical formulations of Betalactum and Non–Betalactum, posted a total income up by 38.93% to Rs. 2743.12 lakh from Rs. 1974.45 lakh in the third-quarter ended 31st December 2010. The net profit for the same period has recorded 55.90% to Rs. 132.81 lakh from Rs. 85.19 lakh.
During the first nine months ended 31st December 2010 the total income was up by 42.48% to Rs. 7170.11 lakh from Rs. 5032.52 lakh during the same period last year. The net profit during the first 3 quarters witnessed 38% growth to Rs. 420.61 lakh from Rs. 304.80 lakh during the same period last year.
Commenting on the financial performance of the Company, Mr. Bafna Mahaveer Chand, CMD, Bafna Pharmaceuticals Ltd says,” We are very proud to announce PAT growing up by 55.9% during Q3. Following the growth we shall continue to invest in the products more widely and to expand it worldwide. We hope to continue doing well in the future also”.
About Bafna Pharmaceuticals Ltd:
The company has 80 products registered in UK, Sri Lanka, Ukraine, Lao, Ghana, Ethiopia, Philippians and Nigeria. The company has two manufacturing facilities. A WHO-GMP certified manufacturing facility in Madhavaram, which is a 100 percent Export oriented Unit (EOU) and an EU GMP (UK MHRA), facility at Grantlyon, Chennai. Recently, the company received Australian TGA approval and also received the Good Manufacturing Practices (GMP) approval from Ethiopia’s Drug Administration and Control Authority (DACA) for its non-betalactam facility.
The company in the month of April 2010 inaugurated its Research and Development (Formulation) (FR&D) facility, a pilot plant in Chennai. The company has secured ISO 9001: 2008 Certificate of Registration for Manufacture and Export of Pharmaceutical products. Bafna Pharma has also received EU GMP Compliances from (MHRA) Medicines and Healthcare products Regulatory Agency, U.K. This accreditation has made Bafna Pharmaceuticals the 35th facility to achieve this key recognition in India and has opened the gates for exploring markets of European Union.
