Beacon Pharma’s profit up on sales growth
In the last fiscal year that ended on 30 June, its revenue was Tk712 crore, which was Tk559 crore in the previous year
Beacon Pharmaceuticals Limited posted a 27% growth in revenue in fiscal 2020-2021 owing to an increase in demand for Covid-related products.
In the last fiscal year that ended on 30 June, its revenue was Tk712 crore, which was Tk559 crore in the previous year.
Its net profit stood at Tk86.39 crore, which was Tk38.07 crore the previous year.
Keep updated, follow The Business Standard's Google news channel
At a board meeting on Sunday, the company recommended a 15% cash dividend for its shareholders for FY21.
In the previous fiscal year, it had recommended a 6% cash dividend for its shareholders.
The company has scheduled an AGM for 29 December 2021 and the record date for the AGM will be 20 November.
Khalilur Rahman, company secretary of Beacon Pharmaceuticals, said Covid-19 products are the main drivers of sales. During the year, it had demand both locally and internationally.
"We have made a higher profit amid the pandemic especially in the third quarter," he added.
The company has reported a profit of Tk260.12 crore in the third quarter, Tk218.36 crore in Q2 and Tk155 crore in Q1 this year.
Beacon is a very popular name in the country's pharmaceutical industry due to its high-quality anticancer drugs, cardiovascular drugs, gastrointestinal medicines, antibiotics, anti-coagulants, protein supplements, muscle relaxants, antihistamine, analgesics, and NSAIDs.
Beacon Pharma, incorporated in 2001 as a private limited company, was listed on local stock exchanges in 2010.
Till 31 October 2021, sponsors and directors jointly held 30%, institutions 34.01% and general public 35.99% shares in the company.
The last trading share price of the company at the Dhaka Stock Exchange was Tk227.70 on Sunday.
