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Our Bureau

Bangalore , Oct. 27

Mr Amarnath R. Hegde has joined Bal Pharma as COO and director. Mr Hegde was formerly CEO of Orchid Healthcare and MD of Astra-IDL, now AstraZeneca Pharma India Ltd.

The board on Friday approved a plan to acquire Sangli-based active ingredients intermediary company, Basav Chem Ltd.

Bal Pharma posted a flattish 10.5 per cent growth in its net for the second quarter year-on-year with a figure of Rs 1.26 crore against Rs 1.14 crore for the same period last year. H1 net was Rs 2.37 crore against Rs 2.20 crore year-on-year.

Total Q2 sales were Rs 18.80 crore compared to Rs 18.43 crore for Q2 of last year.

Gross turnover for the H1 ended September 30 was Rs 38.63 crore, compared to Rs 36.31 crore for the same period of 2005-06. Profit before tax was Rs 3.07 crore compared to Rs 2.85 crore.

Mr Hegde said, "We are on a healthy track towards achieving the corporate objective of Rs 300 crore by the end of 2010."

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