Bafna Pharma Posts INR 208.70 Lakhs Profit in Q1

Chennai based Bafna Pharmaceuticals Limited posted a topline growth of Rs. 2142.87 Lakhs, a growth of over 26% in the First Quarter of FY 2021 - 2022 against Rs. 1687.80 Lakhs in the corresponding period last year. The profits for the period surged to Rs. 208.70 Lakhs as against Rs. 181.16 Lakhs last year, registering a robust growth of 15%. Bafna Pharma has been listed in BSE and NSE.

This robust growth has come despite the raging pandemic for most part of the quarter.

Says Head of Business Development, Navin Bafna, "this growth in numbers has been due to the collective efforts of the team who worked incredibly hard to achieve it inspite of the uncertainty and personal losses. Our business model and the government's vision of giving priority to Pharma products' exports and our consistent and unmatched service are the other major factors for this result."

Continued Navin Bafna, "Going forward, we are also looking for organic growth by getting Market Authorizations in regulated Markets of EU, UK and Australia."

Bafna Pharmaceuticals Limited is an emerging mid-sized pharma company from Chennai and has a special focus on Regulated and Emerging markets. The Formulations' manufacturing facilities at Chennai are state of the art and specially designed to meet statutory requirements of Regulated Markets. One plant is EU-GMP, UK-MHRA, TGA approved and is 100% EOU apart from hosting a FR&D facility as well. The Madhavram facility is GMP compliant.

Shares of Bafna Pharmaceuticals Limited was last trading in BSE at Rs. 155 as compared to the previous close of Rs. 156.8. The total number of shares traded during the day was 1856 in over 97 trades.

The stock hit an intraday high of Rs. 160.3 and intraday low of 149. The net turnover during the day was Rs. 288661.

Source : Equity Bulls

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