Costly raw materials slash two Beximco firms’ profits

The earnings per share (EPS) of Beximco Limited and Beximco Pharmaceuticals saw a year-on-year decrease in the October-December quarter of 2022-23 fiscal year, mainly due to price hikes of raw materials, according to their financial statements.

Beximco Limited

The conglomerate's EPS stood at Tk3.60 in the second quarter of FY23, which is 19% lower than the same time of the previous year.

At the end of the first half, its EPS stood at Tk7.35, which was Tk8.48 a year ago.

Earlier, it earned a record profit of Tk1,255 crore in FY22 owing to its diversified business in Covid-19 treatment equipment.

Currently, its shares are stuck on the floor price at Tk115.60 each at the Dhaka Stock Exchange (DSE).

Beximco Pharmaceuticals

Beximco Pharmaceuticals, a leading drug maker in the country, registered quarterly EPS of Tk2.77 in October-December last year, a 28% down from Tk3.84 in the same quarter the previous year.

However, its revenue grew by 16% to Tk898 crore in the second quarter of FY23.

Its EPS stood at Tk6.02 in the first half of FY23, which was Tk7.12 a year ago.

At the end of the first half, its total revenue stood at Tk1,968 crore, a 16% increase from the previous year.

In FY21, it earned a record profit of Tk512 crore from supplying Covid-19 vaccines and paid a 35% cash dividend to its shareholders which is also the highest in its history.

Its share price fell by 1.01% to Tk146.70 each on Sunday at the DSE.