IBN Sina Pharma's Q3 profits up 44%

IBN Sina Pharmaceutical Industry secured a 44 percent year-on-year rise in profit in the January-March period of fiscal year 2023-24, which it attributed to an aggressive marketing strategy and proactive support from the management.

The profit amounted to Tk 13.46 crore whereas it was Tk 9.34 crore during the same period in the previous fiscal year.

"Our marketing team has put in an aggressive effort to counter a dull market while the management also provided proactive support," said Chief Financial Officer Md Jasim Uddin.

Besides, there was a positive impact of the economic rebound of the country in the sales and revenue growth, he said.

According to him, the marketing team worked proactively to increase sales during the last quarter which helped to increase the profit margin.

Uddin also hoped for the trend to continue in the coming days.

The company's consolidated earnings per share (EPS) stood at Tk 4.31 in the quarter, according to its unaudited financial statement published on the Dhaka Stock Exchange website yesterday.

It was Tk 2.99 in the same period of the previous year.

As for the July-March period this fiscal year, it was Tk 16.23 whereas Tk 13.52 in the same period of the previous fiscal year.

Meanwhile, its consolidated net operating cash flow per share was Tk 15.5 in the first nine months of the current fiscal year, down from Tk 17.47 in the same period of the previous fiscal year.

Its shares closed 1.34 per cent higher at Tk 257 on the DSE yesterday.

Founded in 1983, the company manufactures and sells pharmaceutical drugs, including traditional herbal and unani medicines, according to its website.

The company's manufacturing plant in Gazipur, 56 kilometres away from the capital Dhaka, sits on over 15 acres of land and features sophisticated technology and machineries for manufacturing and quality testing of various dosages of various therapeutic classes.