Square Pharma logs higher earnings
Square Pharmaceuticals posted higher earnings in the July-September quarter as the quantity of people seeking healthcare has truly gone up following a dip in turnout in the previous quarters amid the pandemic.
The country's biggest pharmaceutical manufacturer regarding market capitalisation said its earnings per share rose by 17 % year-on-year to Tk 4.66 in the July-September, according to a posting on the Dhaka STOCK MARKET (DSE) website.
The April-June period of the last fiscal year had not been best for pharmaceutical companies and many witnessed low profits.
During that quarter, the overall holiday declared by the government in a bid to curb the spread of Covid-19 was in place.
Over the two-month lockdown that started on March 26, persons were reluctant to go to hospitals and doctors' chambers, leading to lower sales for the country's drug makers, a high official of Square Pharmaceuticals said.
People are now returning to the hospitals and doctor's chambers for issues apart from COVID-19. So, drug sales rose in the July-September quarter, he added.
Stocks of Square Pharmaceuticals rose 0.74 % to Tk 203 yesterday compared to the previous day. Summit Power also gained 1 % in share price, which stood at Tk 40.
The private power producer yesterday reported its first quarter earnings. Its EPS declined 7 per cent to Tk 1.29 from Tk 1.40 year-on-year.
In the first quarter, Pran's EPS dropped 7.58 per cent to Tk 1.95.
"The fall in the wages is mainly as a result of pandemic," said Abdur Rahman, company secretary of AMCL (Pran).
"Almost all businesses were impacted over the last few months and we were no exception. Still, the standard business situation has not returned," he said.
Agricultural Marketing Company (AMCL-Pran) dropped 0.91 per cent to Tk 185 on the DSE yesterday.
