Square Hospitals, affiliated with Square Pharmaceuticals Limited, recorded a notable surge in its fiscal year 2022-23 revenue, earning Tk533 crore, a 6% rise from Tk502 crore in the previous fiscal year. The hospital, a key contributor to Bangladesh’s healthcare, reported a 12% increase in net profit, reaching Tk37 crore.
Muhammad Zahangir Alam, the CFO at Square Pharma, attributed this growth to the increased dengue cases, marking a substantial rise in revenue. The surge in patient admissions highlighted the trust in their service quality.
Dengue, a mosquito-borne disease, led to a staggering 1,549 fatalities this year in Bangladesh. The Directorate General of Health Services reported over 4,949 patients under treatment across the country, with over three lakh cases documented this year.
Despite the healthcare crisis, Square Hospital stands as a leading institution with 400 beds, managing up to 2,500 patients daily in the outpatient department and serving 500 patients in the inpatient department.
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Square Pharma, owning nearly 50% of the hospital’s shares, invested Tk21 crore, acquiring 1.99 lakh shares with a premium value. The dengue outbreak also boosted Square Pharma’s performance, witnessing a 15% increase in revenue and a 9% rise in profits in the initial quarter of the current fiscal year, marking a revenue surge to Tk2,161 crore and profits reaching Tk600 crore.
