Pharma Aids Ltd suffered a loss of Tk 63.96 lakh in the financial year that ended on June 30 owing to the fall in sales and higher cost of production.

On the other hand, it clocked a profit of Tk 3.48 crore in 2021-22. Thus, the earnings per share slipped to Tk 2.05 in negative in 2022-23 against Tk 11.14 a year earlier.

In a filing on the Dhaka Stock Exchange, the company said the EPS and the net profit significantly decreased and became negative owing to factors such as the reduction in sales due to the disrupted production driven by frequent power cuts and gas supply shortages and a significant increase in the cost of electricity, gas, and imported raw materials resulting from a sharp rise in the foreign exchange rate.

The payments of excessive advance tax in the form of tax deducted at source despite minimal profits and unchanged selling price of glass ampoules were other factors, it said.

The net asset value per share of Pharma Aids declined to Tk 91.28 from Tk 98.83 while the net operating cash flow per share plummeted to Tk 2.33 from Tk 10.85.

The board of the company recommended a 10 percent cash dividend for FY23.