Renata Limited achieved a notable 21.4% profit growth in the third quarter of the current fiscal year, reaching Tk72.62 crore in profit and Tk921.844 crore in revenue. Despite a 14% revenue surge to Tk2781.46 crore, the company experienced a 4% profit decline to Tk258.07 crore for the entire nine months. Remarkably, Renata’s nine-month profit surpassed its previous fiscal year’s annual profit of Tk233 crore. While the second quarter of fiscal year 2023-24 saw a 21.76% revenue growth and a 1.49% profit increase, rising costs, notably in raw materials and utilities, impacted profitability.
Renata’s company secretary, Jubayer Alam, emphasized prudent cost-management strategies amidst challenges like currency devaluation, high interest expenses, and depreciation from capital investments. He expressed confidence in achieving satisfactory profit growth for the fiscal year, noting that even modest performance in the fourth quarter would significantly contribute to overall growth.
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