In Talks With MNCs Pharma Cos For Acquisition Of Brands: Bafna Pharma

Pharmaceuticals formulations major Bafna Pharmaceuticals Ltd was in advanced stage of discussion with some multi-national pharma companies for acquisitions of brands, a company official said.

The city-based company declared its financial results for the quarter ending September 30, 2021 with standalone net at Rs 2.37 crore as against Rs 47 lakh registered during same quarter of previous year.

For the half year period ending September 30, 2021 standalone profit stood at Rs 4.46 crore from Rs 2.29 crore registered during corresponding period of last financial year, a company statement said here on Sunday.

"..with the Covid-19 pandemic nearly behind us, the company is looking at a quantum growth in income as well as (in) profits. We are engaged in advanced-level talks with some multinational pharma companies for acquisition of brands", company Head-Business Development Navin Bafna said in the statement.

The total income on standalone basis during the quarter ending September 30, 2021 grew to Rs 28.61 crore from Rs 15.42 crore registered same period last fiscal.

Standalone total income for the six month period ending September 30, 2021 was at Rs 50.04 crore as against Rs 32.30 crore registered during the same period of last fiscal.

The Earnings Before Interest Depreciation and Amortization (EBITDA) for the half year ending September 30, 2021 was at Rs 7.43 crore, as against Rs 4.28 crore registered in the same period of last financial year, the statement added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor