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.