JMI’s net profit increases by 49%
The company has minimised administrative, selling and distribution expenses during the first three quarters of FY20
JMI Syringes & Medical Devices Ltd has reported a higher profit in the first three quarters (July-March) of the current fiscal year.
During this period, the company's net income stood at Tk8.02 crore, which was Tk5.40 crore in the previous year – an increase of 48.52 percent.
Besides, the company has managed to minimise administrative, selling and distribution expenses during this period.
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At the same time, its earnings per share were Tk3.63, up from Tk2.44 in the same period of the last year.
The company's net sale was Tk133.12 crore, an increase of 8.78 percent from the same period in the previous fiscal year.
Company secretary Muhammad Tarek Hossain Khan told The Business Standard, "Our net sales have increased because the government has bought medical equipment worth Tk22 crore from us."
The net asset value per share of the company is Tk117.11.
The company recommended a 30 percent cash dividend for 2019, though its net profit was Tk6.66 crore, 11.78 percent less than the previous year.
JMI Syringes & Medical Devices Ltd was incorporated as a private limited company in April 1999 in Bangladesh and also a joint venture enterprise with the Republic of Korea.
The company began commercial operation in January 2002.
JMI is the leading manufacturer of precision safety syringes and medical devices in Bangladesh.
