Most listed pharmas see rise in profit | The Daily Star
12:00 AM, May 17, 2019 / LAST MODIFIED: 12:06 AM, May 17, 2019

Most listed pharmas see rise in profit

Most of the listed pharmaceuticals companies posted higher profits in the first three quarters of the fiscal year on the back of better sales at home and abroad.

Thirty-one medicine makers are listed with the Dhaka Stock Exchange (DSE). Of them, 27 published data for the July to March period of 2018-19.

Of the 27, earnings of only seven pharmaceuticals and chemicals companies fell while it rose for the rest.

Multiple factors affected the earnings of the sector.

The sales rose riding on peoples’ higher medicine consumption, which fuelled revenue of the pharma companies and their earnings per share, said Jasim Uddin, chief financial officer of Ibn Sina.

Export earnings also rose for some companies. Pharmaceuticals exports fetched $99.7 million in the nine months to March 2019, up 30.35 percent year-on-year, according to the Export Promotion Bureau.

Square Pharmaceuticals topped the list of the highest profit makers. The company’s net profit stood at Tk 942.05 crore in the three quarters, which is 6.5 percent higher than the similar period a year ago. The company’s gross revenue also rose 20.28 percent year-on-year to Tk 3,103.50 crore.

“The revenue growth is positive as the marketing policy is working well,” said Khandaker Habibuzzaman, company secretary of the largest pharmaceuticals company in Bangladesh.

Renata pulled off the highest EPS among all the listed pharmaceuticals companies in the three quarters. Its EPS rose 15.9 percent to Tk 31.38 and revenue by 10.97 percent to Tk 1,510.72 crore.

DSE data showed Wata Chemical, a chemical producer, recorded the highest growth during the period, with its EPS jumping by 269 percent year-on-year to Tk 8.45.

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