Are Bliss GVS Pharma latest results good or bad?

Bliss GVS Pharma has reported its financial results for the quarter ending June 2025, highlighting several key operational trends. The company achieved a profit after tax (PAT) of Rs 43.04 crore, which represents a year-on-year growth of 107.9%, marking the highest PAT recorded in the last five quarters. This indicates a positive trend in profitability for the company.
The operating profit margin reached 19.92%, reflecting improved operational efficiency. Furthermore, Bliss GVS Pharma has maintained a low debt-equity ratio of 0.08 times, which has shown a consistent decrease over the past five half-year periods, suggesting a reduction in borrowing relative to equity capital.

However, the company is also facing challenges. Interest expenses rose significantly to Rs 5.47 crore, with a quarter-on-quarter increase of 225.60%, indicating rising borrowing costs. The operating profit to interest ratio fell to 7.56 times, the lowest in five quarters, which raises concerns regarding the company's ability to manage its interest obligations. Additionally, a substantial portion of profit before tax, 56.17%, came from non-operating income, which raises questions about the sustainability of its income sources.

Overall, while Bliss GVS Pharma has shown strong growth in PAT and operational efficiency, the increase in interest expenses and reliance on non-operating income present challenges that the company will need to address. The company saw an adjustment in its evaluation based on these results.