Beacon Pharmaceuticals posted a huge 704 per cent upturn in its 3rd Quarter (Q3) earnings for January-March 2021 compared to the same quarter of 2020., mainly due to the strong demand for drugs during the pandemic.
On May 19, through a filing with the Dhaka Stock Exchange, the company stated that its earnings per share (EPS) increased to Tk 2.01 for January-March 2021, an astonishing upturn of 704 per cent from Tk 0.25 in the corresponding period.
EPS of the drugmaker for the 9 months until March 2021, stood at Tk 3.27 against Tk 0.55 for July 2019 – March 2020.
The company is one of the few local companies that made Remdesivir, a widely used medicine for coronavirus treatment. In 2020, the drugmaker saw strong demand for this medicine at home and abroad.
The drugmaker 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.
Meanwhile, the total operating expenses have increased by only 9.60 per cent from the corresponding period of the previous year.
“Due to the 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.
Even with the higher earnings news, its share price dropped 0.71 per cent to close at Tk 125.20 each on May 19.
The drugmaker, which was listed on the DSE in 2010, disbursed a 6.0 per cent cash dividend in 2020.
The EPS of the Dhaka Electric Supply Company (DESCO) decreased over 68 per cent in 9 months of the current fiscal year, compared to the same period of the previous fiscal due to the increase in operating expenses.
According to an official disclosure posted on the Dhaka Stock Exchange (DSE) website on May 19, the power supply company has reported (un-audited) earnings per share (EPS) of Tk 0.43 in 9 months for July 2020 to March 2021 as against Tk 1.37 for the same period of the previous fiscal year
But, the government-run company’s EPS returned to positive Tk 0.12 per share in third quarter (Q3) for January-March, 2021 as against a loss of Tk 0.70 per share in the same quarter in the previous year.
It was explained by the company that the EPS saw a downturn because of the increase in energy purchase as well as an increase in operating expenses, administrative expenses and employee expenses.
The net operating cash flow per share (NOCFPS) of the company 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 of March 31, 2021, and Tk 46.76 as on June 30, 2020.
The net operating cash flow per share (NOCFPS) increased due to an increase in sales revenue received from other operating and non-operating activities, said the company in the disclosure.
The power supply company’s earnings also decreased 96 per cent to Tk 0.04 in the second quarter (Q2) for October-December 2020, because of the downturn in sales of the 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 shares traded between Tk 31.20 and Tk 43.40 in the last year.
The company disbursed a 10 per cent cash dividend for the year ended on June 30, 2020. In 2019, it paid a 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 DSE data has shown that 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.