According to its financial report, Square Pharmaceuticals, the flagship business of Square Group, saw a 12.89% gain in net profit and a 6% increase in net revenue for the first half of the current fiscal year, which concluded in December 2024. In comparison to Tk3,555.25 crore and Tk1,124.59 crore, respectively, during the same time of the previous fiscal year, the market leader in the pharmaceutical industry saw a rise in net revenue and profit from July to December, reaching Tk3,771.77 crore and Tk1,269.64 crore, respectively.
While its income from investments increased 43% to Tk305.61 crore over the same time of the previous fiscal year, its profit from operations fell 3.51% to Tk1,099 crore. According to its half-yearly report, the pharmaceutical company had Tk983 crore invested in equities and Tk753 crore in long-term assets as of the end of December. In the meantime, its net sales increased by 12.55% to Tk1,997 crore in the second quarter, which ran from October to December, compared to Tk1,774 crore during the same period last fiscal year.
While its profit in the October-December quarter of FY24 was Tk524.52 crore, it increased by 25.89% to Tk660 crore in the second quarter. For the first time, Square Pharmaceuticals experiences a drop in revenue in the July–September quarter of FY25. Its Q1 revenue dropped to Tk1,774 crore during that quarter, a minor decrease from Tk1,781 crore during the same period in FY24. At the time, Square Pharma’s chief financial officer, Zahangir Alam, told TBS that the company had never seen a drop in revenue before.
Founded in 1958 as a private company, Square Pharmaceuticals went public in 1991 and is listed on both the Dhaka Stock Exchange and the Chittagong Stock Exchange. The company currently exports its medicine to dozens of countries worldwide. He said the decline is due to a number of factors, including the unrest surrounding the July-August movement, ongoing labor unrest, and unprecedented flooding.
Source: The Business Standard
