Beximco Pharmaceuticals Limited (BXPHAR BD) posts 9.9% YoY profit decrease in FY23

·         BXPHAR BD’s profit fell by 9.9% YoY in FY23. However, the company’s profit increased by 16.5% YoY in 4QFY23.

·         The company recorded a non-recurring income of BDT 619mn derived from Covid-19 vaccine distribution fee In FY22,. Since this contract has now concluded, there is no income from this source in FY23. Moreover, increasing expenses due to depreciation of BDT and high inflation have also had a notable impact on the EPS.

·         The company declared 35% cash dividend for FY23.