Square Pharmaceuticals Limited (SQUARE BD) reported 10.4% profit growth in 2QFY23
· Revenue grew by 14.0% YoY to BDT 16,187mn in 2QFY23. Gross profit margin remained flat at 53.0%.
· EBIT margin increased by ~100bps YoY to 32.8% in 2QFY23. Selling & Distribution Expenses and Administrative Expenses increased by 18.4% and 12.7% YoY respectively.
· Profit from associate decreased by 3.4% YoY in the reporting quarter. Profit from Square Fashion and Square Hospital increased by 39.5% YoY and 4.8% respectively whereas profit from Square Textile fell by 62.2% YoY in 2QFY23.
· Overall, net profit grew by 10.4% YoY and earnings per share stood at BDT 5.78 in 2QFY23.
| Particulars | 2QFY22 | 2QFY23 | 6MFY22 | 6MFY23 |
| Revenue (BDT mn) | 14,195 | 16,187 | 29,072 | 32,257 |
| Gross profit (BDT mn) | 7,586 | 8,579 | 15,199 | 16,866 |
| EBIT (BDT mn) | 4,794 | 5,303 | 9,965 | 11,092 |
| NPAT (BDT mn) | 4,644 | 5,126 | 9,641 | 10,626 |
| EPS (BDT) | 5.24 | 5.78 | 10.88 | 11.99 |
| BVPS (BDT) | 107.36 | 118.53 | 107.36 | 118.53 |
| Growth YoY | ||||
| Revenue | 14.8% | 14.0% | 16.6% | 11.0% |
| Gross profit | 14.8% | 13.1% | 16.7% | 11.0% |
| EBIT | 14.0% | 10.6% | 17.4% | 11.3% |
| NPAT | 21.0% | 10.4% | 24.1% | 10.2% |
| Margin | ||||
| Gross profit | 53.4% | 53.0% | 52.3% | 52.3% |
| EBIT | 33.8% | 32.8% | 34.3% | 34.4% |
| NPAT | 32.7% | 31.7% | 33.2% | 32.9% |
