Renata Limited, a prominent drug manufacturing company in Bangladesh, has experienced a 33% decrease in net profits during the first nine months of the current fiscal year. Despite a 9% increase in revenue, the company attributes this decline to rising raw material prices and energy costs due to the global dollar crisis.
According to Renata’s unaudited financial report, net revenue grew by 8.74% to Tk 2,439.28 crore in the first nine months of the fiscal year, compared to Tk 2,243.13 crore in the same period last year. The company cites increased borrowing costs, foreign exchange losses, decreased returns on investments, and a devalued Taka as contributing factors to the profit decrease. Renata’s consolidated earnings per share and net cash flow per share have also dropped. However, the company remains engaged in manufacturing, marketing, and distributing medicines, nutritional products, and vaccines. Renata Limited operates 10 manufacturing facilities and collaborates with organizations like UNICEF and SMC.