Square Pharmaceuticals reported a 4.53 percent year-on-year profit growth, reaching Tk 1,898 crore in the fiscal year ending June 30 last year. The Bangladeshi multinational pharmaceutical company had a profit of Tk 1,815 crore in the preceding fiscal year, as per its annual report.
This performance resulted in a consolidated earnings per share of Tk 21.41 in fiscal year 2022-23, compared to Tk 20.48 the previous year. The consolidated net asset value per share increased to Tk 113.39 from Tk 104.92, while the net operating cash flow per share decreased to Tk 9.17 from Tk 13.93.
The annual report indicates that the company’s consolidated net revenue for the fiscal year 2022-23 was Tk 6,274.7 crore, marking an 8.9 percent increase over the previous year.
Square Pharmaceuticals serves as the parent company for a group of four entities, including subsidiaries Square Lifesciences, Square Pharmaceuticals Kenya EPZ, and Samson Pharma Inc, Philippines.
Read more: Banglalink’s Orange Club members receive 10% discount on purchase at Aarong
Zahangir Alam, Chief Financial Officer of Square Pharmaceuticals, attributed the company’s success to its extensive product range and long-standing presence in the market, resulting in widespread acceptance among doctors. The company’s marketing costs are significantly lower due to its reputation, and it incurs minimal financing costs with very little debt.
While the company achieved profit growth, Alam noted that it could have been higher if inter-company profits, particularly from Square Textile, had been more substantial.
Read more: Microsoft introduces Copilot app for iOS with free access to GPT-4
Square Pharmaceuticals and its subsidiaries operate in the pharmaceutical industry, covering global markets. The company’s associate entities are involved in various sectors, including yarn manufacturing, knitting, dyeing, garment manufacturing, hospitals, and diagnostic and pathological laboratories.
