Square Pharmaceuticals, the flagship company of Square Group, has reported a 12.89% growth in its net profit and a 6% increase in net revenue for the first half of the current fiscal year, which ended in December 2024, according to its financial report.
During the July-December period, the net revenue of the market leader in the pharmaceutical industry increased to Tk3,771.77 crore, while its profit rose to Tk1,269.64 crore, compared to Tk3,555.25 crore and Tk1,124.59 crore, respectively, during the same period of the previous fiscal year.
However, its profit from operations declined by 3.51% to Tk1,099 crore, while income from investments increased by 43% over the same period of the previous fiscal year to Tk305.61 crore.
At the end of December, the pharmaceutical firm had Tk983 crore invested in stocks and Tk753 crore in long-term investments, according to its half-yearly report.
Meanwhile, in the second quarter during the October to December, its net revenue grew by 12.55% to Tk1,997 crore, an up from Tk1,774 crore in the same time of the previous fiscal year.
While its profit in the Q2 grew by 25.89% to Tk660 crore, which was Tk524.52 crore in the October-December quarter of FY24.
In the first quarter of FY25 during the July to September quarter, Square Pharmaceuticals sees revenue decline for the first time.
On that quarter, its revenue in Q1 declined to Tk1,774 crore, a slight drop from Tk1,781 crore in the same quarter of FY24.
On that time Zahangir Alam, chief financial officer of Square Pharma, told TBS that this is the first time that we experienced a decline in revenue.
The decline is owed to multiple factors, including the turmoil centring on the July-August movement, the ongoing labour unrest and unprecedented flooding, he added.
Founded in 1958 as a private firm, Square Pharmaceuticals went public in 1991 and is listed on both the Dhaka Stock Exchange and on the Chittagong Stock Exchange.
The company currently exports its medicine to dozens of countries across the world. https://www.tbsnews.net
