Bal Pharma, a Bangalore based fast growing pharma company, has posted net profit growth of 2.6 per cent to Rs 1.17 crore during the third quarter ended December 2008 from Rs 1.15 crore in the similar period of last year. Its net sales increased by 11.4 per cent to Rs 27.39 crore from Rs 23.52 crore. Its earnings per share worked out to Rs 1.13 as against Rs 1.10 in the last period.
Commenting on the results Shailesh Siroya, Managing Director, said, "This growth is a result of our focused approach towards our service to the prime customers & therapeutic segments. We have made significant efforts to increase our presence in the growing markets in India and worldwide. As our quality standards are being recognized all over, we are gaining confidence to move ahead aggressively."
The formulation business for domestic & international has shown significant growth with API business striking well. The diabetic division "Glyduz" is showing good results as per the industry trends. The new plant at Uttaranchal is ready to undergo all regulated inspection hence making Bal Pharma future promising. As the plant has commenced production, we are all geared to see the formulation business getting spread in all corners of the globe.
For the nine months period ended December 2008, Bal Pharma's net profit increased by 4.2 per cent to Rs 3.94 crore and its net sales moved up by 19.9 per cent to Rs 83.18 crore.