Bajaj Healthcare, a prominent manufacturer of APIs, intermediates, and formulations, has announced the appointment of Dayashankar Patel as the Chief Financial Officer (CFO) of the company. The decision was approved by the company’s board and is effective from May 6, 2024.
Dayashankar Patel brings with him a wealth of experience, with over 35 years in handling Internal Audit, Statutory Audit, Tax Audit, and key Accounts and Finance functions. A qualified Chartered Accountant, he has a proven track record of successfully managing leading IPOs. Prior to joining Bajaj Healthcare, he has held positions at reputable companies such as Pramara Promotions and Polycab India.
Bajaj Healthcare, known for its strong presence globally in countries like Europe, USA, Australia, Africa, Middle East, and South America, aims to leverage Patel’s expertise to further strengthen its financial operations.
In recent financial reports, the company reported a consolidated net loss of Rs 2.20 crore in the quarter ended December 2023, compared to a net profit of Rs 11.05 crore in the previous quarter ended December 2022. Sales also declined by 18.10% to Rs 108.57 crore in Q3 FY24 over Q3 FY23.
Despite this, the company remains optimistic about its future prospects under the leadership of Dayashankar Patel. The company’s stock declined by 1.60% to end at Rs 316.95 on Monday, May 6, 2024.
