IBN Sina Pharma posts 44% growth in profit during Jan-mar

IBN Sina Pharmaceutical Industry posted a 44% growth in profit year-on-year in January-March quarter of 2023-24 fiscal year.

However, the company’s profit grew at a slower rate of 20% during the first nine months.

With the growth in profit, the drug maker’s share prices jumped by 1.34% to Tk257 each at the Dhaka Stock Exchange (DSE) yesterday over the previous session.

According to IBN Sina’s financial disclosure published on DSE website on Sunday, its consolidated earnings per share (EPS) rose to Tk4.31 in the January-March quarter, up from Tk2.99 during the same period of the previous fiscal year.

It’s consolidated EPS for the first nine months of FY24 surged to Tk16.23, up from Tk13.52 in corresponding period of FY23.

Over the period, the company’s net operating cash flow per share declined to Tk15.50 from Tk17.47 in the July-March period of FY23.

The net asset value (NAV) per share stood at Tk106.75 in March, 2024, up from Tk96.68 a year earlier.

Founded in 1983, IBN Sina Pharmaceuticals got listed on the Dhaka Stock Exchange in 1989.

The company manufactures drugs such as herbal and Unani medicines. Its manufacturing facilities are located in Gazipur.

It has two manufacturing plants – one is pharmaceuticals and another is a natural medicines plant with state-of-the-art technology.

In FY23, it posted a profit of Tk60.54 crore and paid a 60% cash dividends to its shareholders.

 

Source: The Business Standard

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Iram Hoque

Mohd. Iramul Hoque (Iram) completed his bachelor’s degree in Industrial Engineering in 2018 from Purdue University.

He joined Deloitte Consulting LLP as a Consulting Analyst based out of New York City having previously worked in similar roles at PricewaterhouseCoopers LLP & Landis+Gyr.

Iram left consulting and returned to Bangladesh to take up the family business. Realizing the opportunity in the capital market in Bangladesh, Iram worked relentlessly to found Columbia Shares & Securities Ltd in 2021.

Md Saiful Hoque

Md. Saiful Hoque received his bachelor’s degree in Civil Engineering from Columbia University in 1986 followed by a master’s degree from Texas A&M University in 1988. Upon completion of his Graduate Degree, he joined Gulf Interstate Engineering Company in Houston, USA serving as a Project Engineer.

He returned to Bangladesh in 1992 to join Columbia Enterprise Ltd., the family business of Shipping and Freight Forwarding services. In addition, he has built flourishing businesses manufacturing Garment’s Accessories and Fast-Moving Consumer Goods.