Bliss GVS Pharma sweetens after overseas order win

Bliss GVS Pharma rose 2.68% to Rs 122.70 at 13:27 IST on BSE after the company won a three year contract worth $111.40 million for provision of medical healthcare services in Kenya.

The announcement was made during market hours today, 22 November 2016.

Meanwhile, the S&P BSE Sensex was up 58.85 points or 0.23% at 25,823.99

On BSE, so far 1.05 lakh shares were traded in the counter as against average daily volume of 1.03 lakh shares in the past one quarter. The stock hit a high of Rs 125.80 and a low of Rs 117.50 so far during the day. The stock had hit a 52-week high of Rs 201.30 on 27 November 2015. The stock had hit a 52-week low of Rs 79 on 17 June 2016. The stock had underperformed the market over the past 30 days till 21 November 2016, sliding 24.03% compared with the 8.23% decline in the Sensex. The scrip also underperformed the market in past one quarter, declining 11.12% as against Sensex's 7.95% decline.

The small-cap company has equity capital of Rs 10.31 crore. Face value per share is Re 1.

Bliss GVS Healthcare, the Kenyan step down subsidiary of Bliss GVS Pharma, has won a three year contract worth $111.40 million from Aon Kenya Insurance Brokers, for provision of Medical Healthcare Services in Kenya. This contract covers outpatient services for over 3.04 lakh members. This medical cover is to be managed by Aon Kenya Insurance Brokers will benefit the principle contributor, his/her spouse and up to four children, the company said.

Bliss GVS Pharma said the medical cover provides for dental, optical on an out-patient basis and for maternity. The service payments will be received by the company from Aon, in advance, on a quarterly basis, the company said. Part payment for the first quarter payment has been received by the company, it added.

Bliss GVS Pharma's consolidated net profit fell 40.76% to Rs 13.65 crore on 6.72% decline in total income to Rs 171.35 crore in Q2 September 2016 over Q2 September 2015.

Bliss GVS Pharma is a fast-growing pharmaceutical company with a proven track record of developing, manufacturing and marketing high quality pharmaceutical formulations at affordable prices for the global market.

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