JMI’s earnings soar 7.5%

JMI Syringes & Medical Devices Ltd’s revenue increased 28 per cent and earnings per share (EPS) 7.5 per cent for the first quarter of the current financial year compared to the same period a year earlier.

Its revenue stood at Tk 37.80 crore in July-September for FY22, which was Tk 30.03 crore in the corresponding period a year ago. It reported earnings per share (EPS) of Tk 0.86, which was Tk 0.80 during the period.

The information was given at the end of the 225th general meeting of the board of directors of the company on Sunday.

JMI Company Secretary Muhammad Tarek Hossain Khan said globally raw material prices have increased due to the pandemic, resulting in surging cost of production.

“In the first quarter of the current financial year, our sales have increased by 28 per cent, while production cost has increased by 32 per cent,” he said.

The company’s share price declined 0.92 per cent to Tk355 on Sunday. Its market capitalization is Tk791 crore as of Sunday and paid-up capital Tk22 crore.

Due to the pandemic, the company’s earnings were better in the last financial year and recommended a 30 per cent cash dividend for its shareholder. The company was listed on the bourses in 2013.