Pharma Aids returns to profit in FY24
In FY24, its earnings per share (EPS) rose to Tk19.61, compared to a loss of Tk2.05 per share in the previous fiscal year
Pharma Aids, a leading glass ampoule manufacturer for Bangladesh's pharmaceutical industry, returned to profit in the fiscal year 2023-24 after a loss in the previous year.
In FY24, its earnings per share (EPS) rose to Tk19.61, compared to a loss of Tk2.05 per share in the previous fiscal year.
The company has recommended a 25% cash dividend for shareholders for FY24, an increase from the 10% cash dividend in the previous fiscal year.
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However, the company's share price fell by 9.31% yesterday, closing at Tk615.50 on the Dhaka Stock Exchange.
Pharma Aids, in a disclosure published yesterday, explained that increased selling prices, toll production, and raw material cost-saving efforts helped significantly reduce overhead costs per unit. These factors led to higher sales and profits, resulting in a substantial increase in EPS compared to last year.
Meanwhile, the company recommended a 25% cash dividend, keeping in mind the need for funds for land acquisition and an upcoming BMRE (balancing, modernization, rehabilitation, and expansion) project.
In May this year, the company announced plans to establish a new facility on the outskirts of Dhaka to expand production capacity with an investment of Tk11.38 crore.
Pharma Aids began commercial operations in 1984 and was listed on the Dhaka Stock Exchange three years later.
