Square Pharma’s earnings rise by 21% in Q2

Square Pharmaceuticals Limited has posted a 21-percent increase in its earnings in the second quarter ended on December 31, 2021 as against the same quarter last year.

Its earnings per share (EPS) stood at Tk 5.24 in the Q2, up from Tk 4.33 recorded in the same period a year earlier, said the company in a filing with the Dhaka Stock Exchange on Tuesday.

As of December 31, 2021, the company’s net asset value (NAV) per share stood at Tk 107.36 against Tk 102.54 as on June 30, 2021.

Meanwhile, the company had consolidated earnings per share (EPS) of Tk 10.88 in the first six months of the current financial year (July-December ’21).

The EPS for the same period of the previous financial year was Tk 8.76. As a result, the company’s profit increased by Tk 2.12 or 24 percent.

The company informed that increase in sales revenue along with proficient usage of materials let to increased gross profit for the reporting period.

Favorable movement in foreign exchange transactions has also aided in increased net operating profit.

The reduced corporate tax rate for the period resulted in the increment consolidated EPS.