Bliss GVS Pharma shines after bagging contract in Kenya

Bliss GVS Pharma won a three-year contract worth USD 111.4 million (Rs 760 crore) for provision of medical healthcare services in Kenya. The company has bagged a new order from Kenya Insurance Brokers. During the contract, the company will provide outpatient services for over 304,060 members. The medical cover will be managed by AON Kenya Insurance Brokers and the cover will benefit the principle contributor and his/her spouse and up to four children.

Bliss GVS Pharma’s medical cover provides for dental, optical and on outpatient basis and for maternity. Meanwhile, service payments will be received on a quarterly basis. It has collected part of the payment for the first quarter.

On the financial front, Bliss GVS Pharma’s revenue increased 3.59 per cent to Rs 97 crore in Q2FY17, as compared to the same period in the previous financial year. However, the company’s EBITDA reduced by 11.92 per cent to Rs 34.19 crore in Q2FY17 on a yearly basis. Its net profit declined 16.98 per cent to Rs 20.06 crore in Q2FY17, as compared to the same period in the previous fiscal.

The share price of Bliss GVS Pharma increased 5.27 per cent on the bourses in early trades and is trading at Rs 123.5 on intraday basis.