AFC Agro to supply govt Covid testing kit

AFC Agro Biotech will supply a total of 5 lakh RT-PCR Covid-9 testing kits, worth Tk 43.45 crore, to the government.

In a disclosure posted to the Dhaka Stock Exchange on Sunday, the company said that they had received Notification of Award (NoA) from the Ministry of Health and Family Welfare in this regard.

Earlier, the company had received the license for producing the testing kit from the Directorate General of Drug Administration. It received the Emergency Use Authorization (EUA) certificate on February 9.

According to AFC Agro Biotech Limited’s unaudited financial report for the first nine months (July-March) of the last fiscal year 2020-21, the company’s earnings per share (EPS) declined by 88 per cent to Tk 0.12 during the period.

It was Tk 1.1 in the same period of the previous fiscal.

In July-March period, the company saw sharp 87.7 per cent profit decline as it gained net profit Tk 1.4 crore for the third quarter of FY21. The profit was Tk 11.63 crore in the same period of pervious year.

Its total turnover stood at Tk51.94 crore during the period, which was Tk 34.78 crore in the same period of FY20.

The AFC Agro Biotech was listed on the Dhaka Stock Exchange in 2014. Its shares closed at Tk 30.30 on Thusday, up 9.78 per cent from the previous day.