Bengal Chemicals & Pharmaceutiacals Ltd (BCPL), a company set up by renowned chemist Acharya Prafulla Chandra Ray, today reported a net profit for the first time in 63 years.
"We have registered net profit of Rs 1.16 crore for the first half of 2016-17 and this is like creating history as we have been able to achieve the same after 63 years," BCPL Managing Director PM Chandraiah said here today.
Coming out from red and proving wrong the perception that the company can no more be revived, Chandraiah said henceforth, BCPL is poised on the profit track and expects Rs 3-4 crore net for the full fiscal.
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The pharma division has helped the company increase its topline to Rs 96 crore and yield profit.
"In pharma segment, we are making ointments, tablets and capsules for the last six months and supplying to the Centre and 15 state governments," Chandraiah said.
Besides improving sales in the segment, the company has also been able to reduce costs, boost rental income and bring about financial discipline.
The Bengal-based company with 340-odd employees has written to the Centre to convert Rs 130 crore loan into equity and waive the accumulated interest.
In a pioneering effort Prafulla Chandra Ray, the visionary, had founded BCPL in 1901 as eminent doctors having nationalistic feeling like Dr R G Kar, Dr N R Sarkar, Dr S P Sarbadhikari, Dr Amulya Charan Bose, came forward to patronize its products.
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