Two listed drug makers -- Beximco Pharma and Acme Laboratories -- posted higher profits in the first half of the current fiscal year (FY) 2021-22, thanks to higher sales amid pandemic.
The sales rose riding on higher medicine consumption, which boosted revenue of the pharma companies and their earnings per share as well, industry insiders said.
The profits of the drug makers were sales-driven, a top merchant banker said, adding that a huge number of people were infected with coronavirus, so the demand for medicines was higher.
Beximco Pharmaceuticals, a listed company of Beximco Group, has posted a robust sales and a stellar profit growth for July-December 2021.
Alongside its regular sales growth in both local and foreign markets, Beximco Pharma has been enjoying a good profit from its imported Covid-19 vaccine supply to the government.
Beximco Pharma's sales jumped to Tk 16.96 billion for July-December 2021 as against Tk 14.40 billion in the same period of the previous year, according to the financial statements published on Friday.
Beximco Pharma clocked a net profit after tax of Tk 3.14 billion in the first half of the FY '22, up 40.65 per cent from Tk 2.23 billion in the same period a year earlier,
The company has also reported consolidated earnings per share (EPS) of Tk 7.12 for July-December 2021, which was Tk 4.95 in the July-December 2020.
Each share of the Beximco Pharma, listed on the DSE in 1986, closed at Tk 198.40 on Thursday, gaining 1.12 per cent over the previous day.
The drug maker disbursed a 35 per cent cash dividend for the year ended on June 30, 2021. In 2020, it provided 15 per cent cash and 10 per cent stock dividend.
Meanwhile, ACME Laboratories' net profit after tax increased 38.22 per cent to Tk 1.09 billion for July-December 2021, up from Tk 791.63 million in the same period a year ago.
The drug maker's revenue rose to Tk 11.61 billion in July-December 2021, as against Tk 9.99 billion in the same period a year earlier.
The company has also reported earnings per share (EPS) of Tk 5.17 for July-December 2021, which was Tk 3.74 in July-December 2020.
Each share of the Acme Laboratories, listed on the DSE in 2016, closed at Tk 88.50 on Thursday, losing 0.11 per cent over the previous day.