Square Pharmaceuticals reports Tk 2,092 crore profit in FY24 

Square Pharmaceuticals PLC posted a profit of Tk 2,092.91 crore for the year ending on June 30, 2024, posting a 10 percent year-on-year increase. 

Consolidated earnings per share (EPS) for the year rose to Tk 23.61 from Tk 21.41 in FY23, according to a disclosure on the Dhaka Stock Exchange (DSE) website.

Buoyed by the profit growth, Square Pharma's board has recommended a 110 percent cash dividend, its highest in nine years.

The board also approved Tk 500 crore for balancing, modernisation, rehabilitation, and expansion, including capital machinery and land for future extension.

The pharmaceutical company's consolidated net operating cash flow per share was Tk 20.90 in FY24. 

Shares of Square Pharma started the day at Tk 224.5 but slumped 2.18 percent to Tk 219.60 as of 12:10 pm today on the DSE floor. 

Square Pharmaceuticals, the largest pharmaceutical company in Bangladesh, has maintained its market leadership since 1985, according to its website. 

Established in 1958, the company got listed on the stock exchanges in 1995 and continued to strengthen its position as a key player in both the local and global markets.

Shares of Square Pharmaceuticals declined 3.12 percent to Tk 217.50 today on the DSE floor.