Renata Limited reported robust 21.76% revenue growth in Q2 of fiscal year 2023–24, reaching Tk922 crore. However, its profit saw a modest increase of 1.49% to Tk89.18 crore, attributed to rising costs, including raw materials and utility expenses. In the first half of FY24, Renata experienced a 9% decline in profit, totaling Tk190.52 crore, despite a 17% growth in revenue to Tk1,866.50 crore.
The increase in cost of sales by 23.88% and other expenses impacted the overall profitability. On a standalone basis, Renata achieved 21.2% revenue growth to Tk918 crore in Q2, but its profit remained stagnant at Tk85.18 crore. The company’s strategic move to secure zero-coupon bonds worth Tk660 crore aimed at repaying short-term loans amid concerns about increasing interest rates.
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