IBN Sina Pharmaceutical Industry, a prominent player in Bangladesh’s pharmaceutical sector, has announced a notable 44% year-on-year increase in profit for the January-March period of fiscal year 2023-24.
This surge, reaching Tk 130.46 million compared to Tk 90.34 million in the same period of the previous fiscal year, has been attributed to the company’s vigorous marketing endeavors and proactive management support.
Chief Financial Officer Md Jasim Uddin highlighted the concerted efforts of the marketing team to navigate a sluggish market landscape, complemented by support from management.
The company also attributes part of its success to the positive impact of the country’s economic rebound, reflected in enhanced sales and revenue growth. Uddin reiterated the marketing team’s proactive stance in augmenting sales during the last quarter, amplifying profit margins.
The unaudited financial statement published on the Dhaka Stock Exchange website revealed consolidated earnings per share (EPS) of Tk 4.31 for the quarter, a significant rise from Tk 2.99 in the corresponding period of the previous fiscal year. For the broader July-March period of the current fiscal year, the EPS stood at Tk 16.23, compared to Tk 13.52 in the preceding fiscal year.
However, amidst these commendable financial figures, the company witnessed a slight decline in its consolidated net operating cash flow per share, down from Tk 17.47 to Tk 15.5 in the first nine months of the current fiscal year.
Despite this, IBN Sina Pharmaceutical Industry observed a positive market response, with its shares closing 1.34 percent higher at Tk 257 on the Dhaka Stock Exchange yesterday. Established in 1983, the company specializes in the manufacturing and selling of pharmaceutical drugs, including traditional herbal and Unani medicines.