Business

Bafna Pharma spurts after UK MHRA approval for packaging lines

Read more at www.business-standard.com

Bafna Pharmaceuticals hit an upper circuit of 5% at Rs 135.15 after the UK drug regulator approved the company’s two newly added automated packaging lines.

In a regulatory filing made after market hours yesterday, the company said that it had added two fully automated packaging lines to its existing capacity.



The aforementioned packaging lines have been approved by the UK-MHRA (Medicines and Healthcare products Regulatory Agency) for the United Kingdom and the European Union (EU).

Commenting on the approval, Mahaveer Chand Bafna, CEO of Bafna Pharmaceuticals, said: “The approval from UK- MHRA will provide further momentum to our already expanding business in the UK, Europe and other regulated markets. This approval will enable Bafna Pharma to increase its output and consequentially generate higher revenue and profits.

Bafna Pharmaceuticals is engaged in manufacture of pharmaceutical products. It reported a standalone net profit of Rs 0.90 crore in Q3 FY21 as compared to a net loss of Rs 22.33 crore in Q3 FY20. Net sales rose 59.93% YoY to Rs 17.48 crore during the quarter.

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Read more at www.business-standard.com

Show More

Related Articles

Back to top button