BSC Q3 earnings double on soaring shipping fare

State-run ocean-going vessel management company Bangladesh Shipping Corporation (BSC) witnessed a double Earnings Per Share (EPS) in the third quarter (Jan-Mar’22) of the current fiscal year due to the increased shipping fare internationally.

The company’s EPS stood at Tk 3.31 in the January-March period, which was Tk 1.17 in the same period a year ago.

For July-march 2022, BSC’s EPS stood at Tk 11.59, which was Tk 2.83 in the same period a year ago, according to filing with Dhaka Stock exchange (DSE) on Wednesday.

During the same period, BSC’s net asset value per share (NAV) rose to Tk 69.31 as of March 31, 2022 and Tk 60.28 as on june 30, 2021.

BSC has also informed that EPS has increased significantly in this period comparatively last year’s period due to significant increase of fare of the shipping sector internationally, Read the notice.

Net Operating Cash Flow per Share (NOCFPS) was Tk 17.76 for July 2021-March 2022 as against Tk 9.58 for July 2020-March 2021.

Earlier, The BSC has been planning to procure two 80,000-ton mother bulk carriers for transporting coal. For lighterage from the mother vessels, two more bulk carriers will also be bought, with a capacity ranging from 10,000-15,000 ton.

With a rise in Bangladesh’s government’s LNG imports, the BSC has already planned to purchase two 140,000cm (cubic meter) vessels, two 174,000cm, and two 180,000cm capacity LNG vessels, notice on 8 February.

On Wednesday, its share price rose to Tk 118, a stellar rise from Tk 108 recorded on May 18 this year.