Biogen Pharmachem Industries Reports Impressive Turnaround with Rs 134.48 Lakh Net Profit in Q1

Biogen Pharmachem Industries Limited , a pharmaceutical company based in Rajkot, has reported a remarkable turnaround in its financial performance for the first quarter. The company's unaudited financial results, approved by the Board of Directors on July 23, showcase a significant improvement in both revenue and profitability.

Financial Highlights

• Net Profit: Biogen Pharmachem reported a net profit of Rs 134.48 lakhs for the quarter, marking a substantial turnaround from a loss of Rs 15.83 lakhs in the same quarter last year.
• Revenue: Revenue from operations increased to Rs 154.28 lakhs, compared to a negative Rs 9.09 lakhs in the previous year's quarter.
• Expenses: Total expenses rose to Rs 19.80 lakhs from Rs 6.73 lakhs, primarily due to higher employee benefit expenses and other expenses.
• Earnings Per Share: Basic and diluted earnings per share stood at Rs 0.01.

Key Financial Metrics

Capital Structure and Other Details

• The company's paid-up equity share capital increased to Rs 9,026.03 lakhs from Rs 6,526.03 lakhs.
• The Board meeting to approve these results was held on July 23, commencing at 4:15 PM and concluding at 4:40 PM.

Auditor's Review

Rishi Sekhri and Associates, Chartered Accountants, conducted a limited review of the financial results. They stated that nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards and other recognized accounting practices and policies.

Conclusion

Biogen Pharmachem Industries Limited's quarterly results demonstrate a strong recovery and positive momentum. The company has successfully turned around its operations, moving from a loss-making position to achieving significant profitability. Investors and stakeholders will likely be watching closely to see if this positive trend continues in the coming quarters.