Beximco Pharma’s Q3 profits soar 51%

Beximco Pharmaceuticals' profits in the January-March period of fiscal year (FY) 2023-24 grew by 51 percent from that in the same period of the previous fiscal year, owing to higher sales and efficient cost management.

The drug maker's profit increased to Tk 136 crore in the three-month period compared to the Tk 90 crore profit it had made in the same period the year prior.

Thus, the company's earnings per share stood at Tk 3.06 at the end of March. It was Tk 2.13 at the end of the same month of the previous year.

Its sales rose 15 percent year-on-year to Tk 1,098 crore in the third quarter of FY24.

Operating costs also advanced 5 percent to Tk 282 crore, according to the company's financial statements.

Beximco Pharmaceuticals' manufacturing site is spread across 23 acres in Tongi, Gazipur, which is close to the capital.

It houses facilities for manufacturing tablets, capsules, creams, ointments, suppositories, inhalers, ophthalmic drops, and syringes.

A penicillin unit (for both active pharmaceutical ingredient and formulation) is located separately in Kaliakoir.

The company has a team of over 4,700 people who are the driving force behind its progress, according to Beximco Pharmaceuticals' website.

The drug maker's sales and profits also grew in the July-March period of FY24.

During the nine-month period, its sales increased to Tk 3,305 crore compared to Tk 2,923 crore in the nine months of FY23.

In the nine-month period, Beximco Pharmaceuticals' profits increased around 23 percent to Tk 437 crore.

Its shares rose 2 percent to Tk 119 at the Dhaka Stock Exchange yesterday.