Beacon Pharmaceuticals posted a massive 704 per cent increase in its third quarter (Q3) earnings for January-March, 2021 compared to the same quarter of the previous year, thanks to the strong demand for drugs during the pandemic.
In a filing with Dhaka Stock Exchange (DSE) Wednesday, the company said its earnings per share (EPS) increased to Tk 2.01 for January-March 2021, up by a whopping 704 per cent, from Tk 0.25 in the corresponding period.
The drug maker's EPS for nine months until March, 2021 stood at Tk 3.27 against Tk 0.55 for July 2019-March 2020.
Beacon Pharma is one of the few local companies that made Remdesivir, a widely used medicine in Covid-19 patient treatment. Last year, the drug maker saw strong demand for this medicine at home and abroad.
The company has also informed that the turnover of the company for the period of July 2020 to March 2021 has been increased by 50 per cent from the corresponding period of previous year.
On the other hand, total operating expenses has been increased by only 9.60 per cent from the corresponding period of previous year.
"Due to drastic increase of turnover and decrease of operating expenses for the nine month period from July 2020 to March 2021, the EPS has been increased significantly," said the company.
Despite the higher earnings news, its share price dropped 0.71 per cent to close at Tk 125.20 each on Wednesday.
The drug maker, which was listed on the DSE in 2010, disbursed 6.0 per cent cash dividend in 2020.
DESCO: The Dhaka Electric Supply Company's (DESCO) EPS plunged over 68 per cent in nine months of the current fiscal year compared to the same period of the previous fiscal due to increase in operating expenses.
The power supply company has reported (un-audited) earnings per share (EPS) of Tk 0.43 in nine months for July 2020 to March 2021 as against Tk 1.37 for the same period of the previous fiscal year, according to an official disclosure posted on the Dhaka Stock Exchange (DSE) website on Wednesday.
However, the state-run company's EPS backed to positive Tk 0.12 per share in third quarter (Q3) for January-March, 2021 as against loss of Tk 0.70 per share in the same quarter in the previous year.
The company has informed that earnings per share decreased due to increase in energy purchase as well as increase in operating expenses, administrative expenses and employee expenses.
The company's net operating cash flow per share (NOCFPS) was Tk 10.84 for July 2020-March 2021 as against Tk 8.66 for July 2019-March 2020.
The net asset value (NAV) per share was Tk 46.42 as on March 31, 2021 and Tk 46.76 as on June 30, 2020.
The net operating cash flow per share (NOCFPS) increased due to increase of sales revenue and received from other operating and non-operating activities, said the company in the disclosure.
The power supply company's earnings also plunged 96 per cent to Tk 0.04 in second quarter (Q2) for October-December, 2020 due to declining sales because of Coronavirus effect and interest expenses against loan and payroll expenses enhanced.
Each share of the company, which was listed on the DSE in 2006, closed at Tk 34.30, losing 1.72 per cent over the previous day. Its share traded between Tk 31.20 and Tk 43.40 in the last one year.
The company disbursed 10 per cent cash dividend for the year ended on June 30, 2020. In 2019, it paid 12 per cent cash dividend.
The company's paid-up capital is Tk 3.97 billion, authorised capital is Tk 5.0 billion and the total number of securities is 397.56 million.
The government owns 67.63 per cent stakes in the company while the institutional investors own 23.12 per cent, foreign investors 0.08 per cent and the general public 9.17 per cent as of April 30, 2021, the DSE data shows.