Renata’s profit grows 11% in Jul-Sep
The revenue also rose 5% to Tk774.49 crore
Renata Limited – a manufacturer of pharmaceuticals and animal health products – has registered a 10.71% growth in profit for the July-September quarter of fiscal 2021-22.
Their revenue also rose 5% to Tk774.49 crore, from Tk735.29 crore in the previous corresponding quarter.
According to its financials, the profit increased to Tk139.654 crore, from Tk126.13 crore, and the earnings per share (EPS) rose to Tk14.19, from Tk12.7, at the same period a year ago.
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In fiscal 2020-21, its profit grew 26% to Tk500 crore for the first time.
As profit rose significantly, the company has recommended a 155% dividend, of which 145% is in cash and 10% in stocks.
The company said the stock dividend is for expanding its manufacturing facility.
Renata Limited – formerly Pfizer Limited – is one of the leading and fastest-growing pharmaceutical and animal health product companies in Bangladesh.
It went into operations in 1972 as Pfizer (Bangladesh) Limited. In 1993, Pfizer transferred the ownership of its Bangladesh operations to local shareholders and the name of the company was changed to Renata Limited.
As per the company, Renata is exporting drugs worth around Tk50 crore to 27 countries including Afghanistan, Belize, Cambodia, Ethiopia, Guyana, Honduras, Hong Kong, Kenya, Malaysia, Myanmar, Nepal, Philippines, Sri Lanka, Thailand, the United Kingdom, and Vietnam.
In October, it received Good Manufacturing Practices (GMP) Certification from the Brazilian Health Regulatory Agency.
In that month, it also secured GMP Certification for its tablet, capsule, and injectable lines from the Food, Medicine, and Healthcare Administration and Control Authority, Ethiopia.
