Beximco losses rise

Beximco Limited has witnessed an increase in its losses to Tk 113 crore in the July to September period of the current fiscal year of 2024-25 due to political unrest.

The conglomerate saw a loss of Tk 70 crore in the same quarter of last year.

Beximco Limited reported that political unrest, a state-imposed curfew, internet shutdowns, and additional holidays during the July-August period significantly disrupted the company's operations.

These challenges adversely affected production, marketing, and distribution activities, as well as the transportation of goods to and from ports and the domestic market.

This resulted in a substantial negative impact on the company's overall performance, it said in its price sensitive information.

As per its unaudited report, the company's turnover dropped 48 percent year-on-year to Tk 300 crore in the first quarter of fiscal year 2024-25.

While Beximco Ltd suffered, Beximco Pharmaceuticals Limited's profit increased by 8 percent year-on-year to around Tk 170 crore in the same first quarter.

Its revenue increased around 5 percent to Tk 1,171 crore at the same time.

Stocks of Beximco Ltd remained the same at Tk 115.60 while stocks of Beximco Pharmaceuticals dropped 1.74 percent to Tk 84.50 at Dhaka Stock Exchange yesterday.