Beximco Pharmaceuticals Ltd., one of Bangladesh’s largest pharmaceutical exporters, announced an impressive profit of Tk 5.86 billion for the fiscal year ending June 30, 2024, marking a 29% year-over-year increase.

The record-breaking performance has led the board to recommend a 40% cash dividend for shareholders, the highest in eight years.

Following the announcement, Beximco Pharma’s shares surged by 4.72%, reaching Tk 73.2 on the Dhaka Stock Exchange by midday.

The company’s consolidated earnings per share (EPS) rose to Tk 13.07, up from Tk 10.34 the previous fiscal year. Beximco attributed the growth to robust sales, lower finance costs, and the profitability of Synovia Pharma, formerly Sanofi Bangladesh Ltd., which Beximco acquired in 2021. A reduced effective tax rate for Synovia also boosted the profit.

Beximco’s consolidated net operating cash flow per share increased to Tk 18.75, reflecting heightened sales volumes, reduced finance costs, and improved working capital.