Samorita Hospital to construct building at a cost of Tk5.5cr

To expand its services, Samorita Hospital Ltd will construct an eight-storey building adjacent to the hospital premises at the capital's Panthapath by 2023 at a cost of Tk5.50 crore.

The company, which got listed on local stock exchanges in 1997, will finance the entire amount from its own source, according to its disclosure published on Sunday on the websites of the bourses.  

It had earlier purchased a 4.12 katha land along with two – one five-story and another four-story – old buildings at the city's East Rajabazar at a cost of Tk5 crore, excluding registration and other related expenses.

The company said the new building, including an approximate 15,560 square-foot basement, will be used for the purpose of ETP, physiotherapy centre, chemotherapy unit, consultants' chambers, and canteen and dormitory.

It has also decided to renovate the recently purchased two buildings adjacent to the hospital premises which will be rent out for residential purposes until any other decision is taken.

The estimated renovation cost will be Tk40 lakh and the company will earn an estimated monthly rent of Tk1.70 lakh.

Samorita sees jumps in revenue and profit in nine months

The company also saw an increase in both revenue and profit in the first nine months of fiscal 2020-2021.

According to the financial statement, it has posted a 3.37% rise in revenue while 32% jumps in profit in the July-March period.

In the January-March quarter, the revenue dropped 5.78% but its net profit increased 90% compared to the corresponding period of the previous year.

In the first nine months, its revenue increased mainly from medical services and pharmacy amid the pandemic.

Its revenue from medical services increased 8.32% and income from pharmacy jumped 23% while income from diagnostics dropped 21% compared to the same time of the previous year.

In fiscal 2019-2020, the company reported a profit of Tk32 lakh but did not pay any dividends to its shareholders.