Profits of listed pharmaceutical companies in Bangladesh shrank in the last fiscal year of 2022-23, the first decline in at least five years, as the cost of production went up.
Economic crisis: At least 43 listed companies and mutual funds fell to losses in July to December of the ongoing financial year after reporting profits in the identical half a year ago.
Around 70 per cent of listed companies in Bangladesh either suffered losses or witnessed lower profit in the July to December period of the current financial year due to the surge in production costs, the sharp depreciation of the local currency and lower consumption.
Businesses in Bangladesh went through a tough time in recent months due to a dearer US dollar that pushed up their costs of raw materials and a rocketing fuel bill that contributed to the surge in operating expenses.