News | October 03, 2023
Briefs: Aurobindo Pharma and Balaxi Pharmaceuticals
Balaxi Healthcare Ecuador S.A.S. has become a Wholly Owned Subsidiary of the company
Balaxi Healthcare Ecuador S.A.S. has become a Wholly Owned Subsidiary of the company
During the quarter, foreign exchange fluctuations had an impact of Rs. 4.56 crore Q3 FY23 Profit After Tax after considering exchange rate fluctuations stood at Rs. 8.2 crore
The investment will enable the company to enter European markets as well as enhance margins in current markets
Revenue is up 23% whereas Profit After Tax expands 29% for the company
Proceeds from the proposed issue will be utilized to part finance Balaxi’s planned EU GMP-compliant manufacturing facility for Oral Solid Dosages and Liquid Injectables at TSIIC Pharma Formulations SEZ
This facility will produce higher efficacy products that enjoy greater acceptance and enhanced profit marginsg
The company has reported PAT of Rs. 10.7 crore for Q1 FY22, higher by 23% YoY
Drop in revenue in the fourth quarter is normal as China is shut down for most of the quarter due to the Chinese New Year holiday
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