Bangalore-based pharmaceutical firm Bal Pharma has posted a net loss of Rs 95 lakh in the fourth quarter-ending March 31, 2009, registering a 3 per cent rise in losses compared to the corresponding quarter of the previous fiscal.
Expenses incurred on setting up its finished formulation plant at Rudrapur, Uttaranchal in Q4 of FY 2008-09 has reflected in the losses, Shailesh Siroya, Managing Director, Bal Pharma told Business Standard. The company’s total income has grown 12.3 per cent to Rs 25.87 crore for the same period.
The company’s net profit after tax for the year-ending March 31, 2009, stood at Rs 2.99 crore as against Rs 2.85 crore in the last year. The total income went up to Rs 106.55 crore for the year, registering a growth of 18 per cent over the previous fiscal.
Rise in turnover has been attributed to company’s increased market presence of branded formulations and rise in the overseas sales.
Apart from Europe, the company is strengthening its presence in Japan by widening its distribution network to sell bulk drugs including anti-diabetic and anti-allergic drugs, said Siroya.
