Asiatic Lab sees 16% growth in Oct-Dec
Asiatic Laboratories, a pharmaceutical company listed on the stock market, reported a 16% growth in its earnings per share (EPS) for the second quarter, covering the period from October to December.
However, the company experienced a 37% year-on-year decline in its half-yearly EPS during the July to December period, according to its unaudited financial report published on the Dhaka Stock Exchange (DSE) on Sunday.
Its half-yearly EPS declined significantly, as it witnessed a 74% fall in the first quarter, covering the July to September period.
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Regarding the deviation in EPS, the drug maker said that the change was due to a variation in net profit, fluctuations in deferred tax income/expenses, as well as an increase in operating expenses, financial expenses, and the number of ordinary shares for the period ended 31 December 2024, compared to the same period of the previous fiscal year, the disclosure read.
During the half-year, its net operating cash flow per share declined to Tk0.87 from Tk1.19 in the July to December 2023 period.
Regarding cash flow, the company explained that the decrease in net operating cash flow resulted from a decline in customer collections and an increase in the number of ordinary shares.
Raising Tk95 crore through its initial public offering (IPO), Asiatic Laboratories debuted on the stock exchanges on 6 March this year.
In August 2022, the Bangladesh Securities and Exchange Commission (BSEC) allowed the company to determine the cut-off price of its shares.
The cut-off price was fixed at Tk50 each by eligible investors, while general investors were entitled to buy shares at Tk20, as per BSEC regulations.
Due to its failure to disburse the declared dividend, the DSE downgraded the company to the Z category on 29 January.
However, after completing the dividend disbursement, the DSE reinstated it to the A category, as the company distributed a 10% cash dividend to its shareholders.
On Sunday, its shares closed at Tk38.40 each, down 2.76% from the previous trading session.
