Bafna Pharma's FY10 net profit jumps 132.46% to Rs 248.15 lakhs

Net Sales for FY10 zoom up 62.45% at Rs 7440.14 lakhs

Bafna Pharmaceuticals Ltd (BSE CODE: 532989), a manufacturer and exporter of drug formulation today announced its fourth quarter results for fiscal year 2009-10.

For the financial year ended 31st March 2010, Company’s consolidated revenue rose by 62.45 % from Rs. 4579.95 lakhs to Rs. 7440.14 lakhs. The net profit rose by 132.46% from Rs.106.75 lakhs to Rs.248.15 lakhs for the fiscal year.

The Profit Before Tax for the quarter ended March 31, 2010 stands at Rs. 91.71 lakhs and the net sales at Rs. 2407.62 lakhs thus presenting an impressive growth in the revenues by 36.56%.

Commenting on the financial performance of the Company, Mr. Bafna Mahaveer Chand, CMD, Bafna Pharmaceuticals Ltd says, “It has been a satisfying year, one in which we could achieve our goals sets towards customer satisfaction, quality standards and, ofcourse shareholder value. We are confident that this will be a good platform to achieve our long term vision of dominating our product categories worldwide.”

About Bafna Pharmaceuticals Ltd:
Bafna Pharmaceuticals, is a BSE listed (BSE Code: 532989) Chennai-based Company engaged in the business of manufacturing of pharmaceutical formulations of Betalactum and Non–Betalactum products. The company has over 73 products registered in Sri Lanka, Ukarine, Lao and Ghana. The company has two manufacturing facilities. One is WHO-GMP certified manufacturing facility in Madhavaram, which is a 100 percent Export oriented Unit (EOU). And another one is an EU GMP facility at Grantlayan, Chennai. Recently the company received the Good Manufacturing Practices (GMP) approval from Ethiopia’s Drug Administration and Control Authority (DACA) for its non-betalactam facility.

The company in the month of April 2010 inaugurated its Research and Development (Formulation) (FR&D) facility, a pilot plant in Chennai. The company has secured ISO 9001: 2008 Certificate of Registration for Manufacture and Export of Pharmaceutical products. Bafna Pharma has also received EU GMP Compliances from (MHRA) Medicines and Healthcare products Regulatory Agency, U.K. This accreditation has made Bafna Pharmaceuticals the 35th facility to achieve this key recognition in India and has opened the gates for exploring markets of European Union.