In talks with MNC pharma companies for acquisition of brands: Bafna Pharma

Bafna Pharmaceuticals 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 30th September, 2021 with standalone net at Rs 2.37 crores as against Rs 47 lakhs registered during the same quarter of the previous year.

For the half-year period ending 30th September, 2021 standalone profit stood at Rs 4.46 crore from Rs 2.29 crore registered during the corresponding period of the last financial year, a company statement said recently.

“..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 multi-national pharma companies for acquisition of brands,” Navin Bafna, Company Head-Business Development, said in the statement.

The total income on standalone basis during the quarter ending 30th September, 2021 grew to Rs 28.61 crores from Rs 15.42 crores registered same period last fiscal.

Standalone total income for the six-month period ending 30th September, 2021 was at Rs 50.04 crores as against Rs 32.30 crores registered during the same period of last fiscal.

The Earnings Before Interest Depreciation and Amortisation (EBITDA) for the half-year ending 30th September, 2021 was at Rs 7.43 crores, as against Rs 4.28 crores registered in the same period of the last financial year, the statement added.