Dhaka, Nov. 12 -- Beximco Pharmaceuticals witnessed a 4.7 per cent drop in net profit in the first quarter (Q1) of the current financial year on the back of higher raw materials costs and sharp depreciation of local currency, despite having registered higher revenue.

The drug maker's profit after tax stood at Tk 1.41 billion in July-September of fiscal year (FY) 2022-23, as against Tk 1.48 billion in the same quarter of the previous fiscal year, according to the company's unaudited financial statements published on Friday.

As a result, the company's earnings per share (EPS) dropped to Tk 3.24 this quarter from Tk 3.28 for July-September of FY '22.

Although profits declined, the company's sales surged as revenue grew almost 16 per cent ...