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Dhaka Electric Supply Company Limited (DESCO), the power supply company, posted a 62 per cent in net profit in the last fiscal year compared to the previous fiscal year.
Its net profit stood at Tk 73.91 crore in FY21, which was Tk 45.56 crore in FY20, according to the company.
DESCO has declared a 10 per cent dividend for its shareholders for the fiscal year ended on June 30, 2021. The dividend payout was declared at the company’s board meet on Thursday.
Its annual general meeting (AGM) is scheduled for January 15 and the record date for the entitlement of the dividend on November 18.
The company reported earnings per share (EPS) of Tk 1.86 for the last financial year, which was Tk 1.15 in the previous year. Its net asset value (NAV) per share was Tk 65.24 as of June 30, 2021.
DESCO distributes electricity to the northern parts of Dhaka city. It got listed on the Dhaka Stock Exchange in 2006. The power sector company belongs to “A” category.
The government owns 67.66 per cent, institutional investors 23.76 per cent, foreign 0.06 per cent and the general public 8.52 per cent of the company’s stake.
On Thursday, its share price was down more than 1 per cent to Tk 39.60 on the Dhaka Stock Exchange. Its paid-up capital is Tk397 crore.
The company disbursed 10 per cent cash dividend for FY20 and 12 per cent cash dividend for FY19.
However, it suffered losses caused by the Covid-19 pandemic as its net profit was down by around 69 per cent to Tk 17 crore in the first nine months of FY21 compared to the corresponding period a year ago.
The power distribution company’s sales were 3,891MKH during the period, which was 3,915KMH in the corresponding period a year ago.
