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26 June 2022


Business Insider Bangladesh

Fire wreaked what havoc on Square Pharma

BI Report || BusinessInsider

Published: 21:08, 25 May 2022   Update: 21:14, 25 May 2022
Fire wreaked what havoc on Square Pharma

Graphics: Business Insider Bangladesh

Square Pharmaceuticals, a company listed on the stock exchanges, said the fire outbreak in its factory two days ago would reduce its revenue by Tk 50 crore.

And due to this accident, the company’s profit will be reduced by Tk 8 crore.

In a filing with the Dhaka Stock Exchange on Wednesday, the company informed the investors about it.

The company said in a statement to the stock exchange that the fire broke out at a new unit of the company at Kaliakoir in Gazipur at 12pm on Monday. The fire was brought under control at 11pm after 11 hours of efforts by 14 units of fire service.

Due to the damage caused by this fire, production of 50 types of products will be disrupted. As a result, the company’s revenue could fall by Tk 50 crore and the profit could be reduced by Tk 8 crore.

Meanwhile, the company’s experts are calculating the amount of damage caused by the fire. 

However, it will take 2 to 3 years for the factory to normalise the production by eliminating the damage caused by the fire, the company said.

 

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