Renata PLC reported significant growth in fiscal year 2023-24, with revenue increasing 14% year-on-year to Tk 3,771 crore and profit surging 55% to Tk 362 crore. This growth was driven by higher exports, which rose by 4% and expanded to 50 destinations, including the US and Australia. Despite an 8% rise in selling, marketing, distribution, and administration costs, the company’s net profit improved, partly due to a 13% reduction in finance costs. Renata announced a cash dividend of 92%, up from 62.5% the previous year. In addition, the procurement of new products, including tuberculosis treatments, boosted contract manufacturing revenue by 110%. Renata achieved the highest growth among the top five pharmaceutical companies in Bangladesh, with a 12% increase in the pharma segment, while maintaining its market leadership in animal health with a 9% growth.
Source for more details:
