Bafna Pharmaceuticals, a Chennai based Rs.75 crore pharma entity, has posted strong growth of 35.1 per cent in net sales during the second quarter ended September 2010 to Rs.22.80 crore from Rs.16.88 crore in the corresponding period of last year. Its net profit increased marginally to Rs.1.29 crore from Rs.1.24 crore. The earning per share worked out to Rs.0.81 as compared to Rs.0.77 in the last period.

For the first half ended September 2010, Bafna's net profit jump up by 27.3 per cent to Rs.2.80 crore and its net sales increased by 45 per cent to Rs.44.33 crore. With improvement in profits its EPS improved to Rs.1.75 from Rs.1.37 in the similar period of last year.

Commenting on the financial performance, Bafna M Chand, chairman and managing director, said, “This has been a very encouraging first half for Bafna with the revenue up by 45 per cent and PAT up by 27.4 per cent. The recent Australian TGA approval has boosted our plans for expanding in the Australian market and provide momentum to our already growing business worldwide. We are confident that taking this growth forward, we will be able to achieve our long term vision of dominating our product categories worldwide. The impact of the new developments would be felt in the next quarter and we expect further consolidation of our new revenue and profits.”

The company earned a net profit of Rs.2.48 crore during the full year ended March 2010 and it recorded net sales of Rs.74.40 crore.