Beximco Pharma profit grows 29% in FY24
The drug maker recommended a 40% cash dividend for its shareholders for FY24
Beximco Pharmaceuticals Limited has reported a 29% increase in its consolidated profit for the fiscal year 2023-24, reaching Tk586.67 crore.
Meanwhile, the drug maker recommended a 40% cash dividend for its shareholders for FY24, compared to a 35% cash dividend paid for FY23.
In a meeting held today (28 October), the company's board of directors approved the financials for the year ending 30 June 2024, and recommended the dividend.
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In FY23, its profit was Tk452.44 crore. Its earnings per share (EPS) stood at Tk13.07 in FY24, up from Tk10.28 in FY23.
In price-sensitive information (PSI) regarding significant deviation, the company said double-digit sales growth, lower finance costs, Synovia Pharma's transition to profit from the previous year's loss, coupled with a reduced effective tax rate for the subsidiary companies, helped increase earnings per share.
The annual general meeting is scheduled for 29 December through virtual platform and to identify its shareholders, the record date has been fixed for 25 November.
