Dhaka, April 26 -- JMI Syringes & Medical Devices' net profit plunged by 54 per cent year on year to Tk 15.12 million in nine months through March this year owing to strong dollar and higher import costs.

The supplier of medical equipment, especially syringes, to the government, had made a Tk 32.53 million profit in the same period of the year before.

Accordingly, earnings per share (EPS) stood at Tk 0.50 in July-March of FY24, down from Tk 1.08 in the same period of the previous year, according to a disclosure published on Thursday.

Appreciation of US dollar against taka, increase of raw material & packaging materials cost, utility cost and other related overhead, dragged down the profit, said the company in its earnings note.

JMI Sy...