IBN Sina Pharma posts 21% profit growth
The IBN Sina Pharmaceutical Industry – an enterprise of IBN Sina Trust – posted a 21% growth in profit in the first nine months of fiscal 2021-22 as its business maintained an upward trend.
According to a financial disclosure on Thursday, its consolidated profit rose to Tk41.43 crore, up from Tk34.17 crore a year ago.
The consolidated earnings per share (EPS) stood at Tk13.26, up from Tk10.92 in the July-March period of fiscal 2020-21.
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Its net operating cash flow per share decreased to Tk10.84 but net asset value (NAV) per share rose to Tk77.26 from Tk68.69 during the same period in the previous fiscal year, according to the financials.
Riding on an increase in the sales of drugs amid the Covid-19 pandemic, its consolidated profit rose by 24% in fiscal 2020-21 compared to the previous year.
Based on the profit growth, it had paid a 47% cash dividend to its shareholders, the highest for the company in the last twelve years since 2009.
The IBN Sina Pharmaceuticals Industry was founded in 1983 and got listed on the Dhaka Stock Exchange in 1989.
The company manufactures drugs such as herbal and Unani medicines. Its manufacturing facilities are located in Gazipur.
It has two manufacturing plants – one is pharmaceuticals and another is a natural medicines plant with state-of-the-art technology.
