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Asiatic Laboratories reported a 16.13 per cent year-on-year growth in profit to Tk 88.12 million in the second quarter of FY25 through December last year.
The earnings per share stood at Tk 0.72 for October-December of FY25, up from Tk 0.62 for the same quarter of the previous year.
Asiatic Laboratories did slightly better in the second quarter of FY25, compared to the first quarter of FY25.
However, in the first quarter through September last year Asiatic Laboratories had endured a 74 per cent year-on-year plunge in profit to Tk 29.4 million.
In November last year, the Bangladesh Securities and Exchange Commission (BSEC) initiated an investigation into the company's financial statements and the utilization of funds raised through the initial public offering (IPO). The scrutiny led to disruptions to operations and increased legal expenses, adversely affecting the company's profitability, according to financial statements.
Hence, the company's income in the first half of FY25 fell more than 35 per cent year-on-year to Tk 117.5 million.
According to the company, the change in earnings was due to a deviation in deferred tax income/expenses as well as an increase in operating expenses and financial expenses.
The company generated lower cash in the first six months of FY25, compared to the same period the year before, for lower collections from customers, said the company.
Operating cash flow per share was Tk 0.87 in July-December last year, reduced from Tk. 1.19 in July-December of 2023.
After the latest earnings disclosure, the stock of Asiatic Laboratories slid 2.76 per cent to Tk 38.80 per share on the Dhaka Stock Exchange (DSE) on Sunday.
Asiatic Laboratories got listed in 2024.