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Renata Ltd posted a 26 per cent year-on-year growth in net profit to Tk 733 million in January-March this year, supported by higher sales growth.
The drug maker made Tk 581 million profit in the same quarter of the year before, according to its unaudited financial statements published on Monday.
Thus, consolidated earnings per share stood at Tk 6.38 in January-March this year, up from Tk 5.06 per share in the same quarter a year before.
The drug maker’s sales grew more than 9 per cent year-on-year to Tk 9.23 billion in the three months through March 2023.
Its nine months profit, however, dropped slightly by 2 per cent to Tk 2.63 billion in July-March of FY24, although sales rose 14 per cent to Tk 27.89 billion during the time due to higher operational costs.
Listed in 1979, the drug maker’s stock dropped 0.58 per cent to close at Tk 767.2 on Monday. Its stocks have plunged 37 per cent after the withdrawal of the floor price.