Bliss GVS Pharma Surges 14% After June Quarter Profit Jumps 57%

Shares of the Mumbai-based drug maker Bliss GVS Pharma - rose as much as 16 per cent to hit an intraday high of Rs 124.60 after the company reported strong June quarter earnings. Bliss GVS Pharma's consolidated net profit in the quarter ended June 2021 rose 57 per cent to Rs 26 crore compared with Rs 16.65 crore in the same quarter last year. Its revenue from operations advanced 30 per cent to Rs 168 crore versus Rs 129.5 crore in the corresponding period a year ago.

Bliss GVS Pharma's earnings before interest, tax, depreciation and amortisation (EBITDA) or operating profit advanced 78 per cent to Rs 35 crore from Rs 19 crore in the year ago period.

The company has re-appointed Shruti Vishal Rao and Vibha Gagan Sharma as whole-time directors for another period of three years, Bliss VS Pharma said in an exchange filing.

Bliss GVS Pharma shares have so far this year declined 38 per cent compared with around 10 per cent gain in the Sensex.

Bliss GVS is a pharmaceutical company that develops, manufactures and markets high-quality pharmaceutical formulations at affordable prices for the global market.

As of 1:06 pm, Bliss GVS Pharma shares traded 14.6 per cent higher at Rs 123.30, outperforming the Sensex which was up 0.7 per cent.