Bal Pharma's PAT soars 113 pc
Bangalore, July 3 (UNI) Bal Pharma Limited, a city-based pharmaceutical company, has posted 113 per cent growth in its profit after tax at Rs 333.98 lakh in the financial year 2005-06, as against Rs 156.90 lakh in the previous year.
The profit before tax was Rs 398 lakh, up by 62 per cent from last year's figures. The gross turnover for the year was Rs 76.47 crore, higher by 27 per cent over the previous year's Rs 60.03 crore, the company said in a release here today.
Announcing the results at the Board meeting, company Managing Director Shailesh D Siroya said ''the company and its people have worked aggressively over the last couple of years and our continuous growth is the result of our concentrated efforts in achieving our long term vision of being one of the top performing companies in Indian and global pharmaceutical industry.'' All divisions of the company have contributed towards the overall growth of the organisation. However, the expected performance was affected by introduction of MRP based excise regime and downward revision of incentives retrospectively, the company said.
The Directors have recommended a dividend of 7.5 per cent on the expanded capital of Rs 10.44 crore, encouraged by the good performance and keeping in view the resource requirement for ongoing expansion.
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