(Alliance News) - Beximco Pharmaceuticals Ltd on Friday posted an increase in its profits for the first quarter of financial 2021 despite challenges posed by the pandemic.
Shares in the medicine manufacturer were trading 1.3% higher at 76.00 pence each on Friday in London.
For the first three months ended September 30, Bangladesh-based Beximco posted pretax profit of BDT1.46 billion - around GBP13.1 million - up 29% from BDT1.13 billion the year prior. This was as net revenue rose 10% year-on-year to BDT6.93 billion from BDT6.30 billion.
Looking ahead, Managing Director Nazmul Hassan said: "We continue to focus on expanding our portfolio and consolidating our international presence, as well as supporting national efforts to safeguard against Covid-19, including working with the Government of Bangladesh and Serum Institute of India to deliver a vaccine in Bangladesh."
Cash held as at September-end was BDT387.5 million, down from BDT635.0 million at June 30.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Beximco Pharma (BXP)