State-run power supplier Dhaka Electric Supply Company Ltd (DESCO) suffered a loss of Tk195 crore in the first six months (July–Dec'23) of the fiscal year 2023–24 due to foreign exchange fluctuations and a sharp fall in distribution revenue.
The publicly traded company incurred a net loss of Tk 195.43 crore in the first six months of the current fiscal year, against a profit of Tk8.19 crore in the corresponding period last fiscal, according to the second quarter report, which was approved on Saturday’s board meeting.
DESCO, the company responsible for electricity distribution in the capital's west and north-eastern areas, reported earnings per share (EPS) of Tk 4.92 for the July-December period of FY24, whereas EPS was Tk 0.21 for the same period of FY23.
Earrings decreased significantly due to foreign exchange fluctuations and a sharp fall in distribution revenue due to the disproportional increases in bulk and retail electricity prices, the company’s sources said.
