Bal Pharma Ltd, a Bangalore based pharma company, has put up satisfactory financial performance during the second quarter ended September 2006. The company's net profit increased by 21.2 per cent to Rs 1.26 core from Rs 1.04 crore in the corresponding period of last year. The net sales moved up by 3.3 per cent to Rs 18.28 crore from Rs 17.69 crore. The earning per share worked out to Rs 1.21 as compared to Rs 1.08 in the last period.

The net profit for the first half improved by 19 per cent to Rs 2.38 crore to Rs 2 core and its net sales increased to Rs 37.32 crore from Rs 35.14 crore in the similar period of last year. The earning per share for the first half came down slightly to Rs 2.28 as against Rs 2.29.

The company's board has approved the proposal to acquire Basav Chem. Ltd, at Sangali, an API intermediary manufacturing company.