Home ›› 13 Aug 2022 ›› Stock
Twelve listed power and fuel sector companies have reported negative growth in their earnings in the first nine months of the last fiscal year (FY22) compared to the same period of the previous year.
Out of the 21 listed companies, nine companies witnessed positive growth in their earnings per share (EPS), according to reports filed by the companies with the Dhaka Stock Exchange (DSE).
Shutting down of some power plants, an increase in the price of raw materials, and a decrease in investment income caused negative growth, market insiders said.
Besides, some companies’ earnings rose from operating income against product handled and also increased sales volume as compared to the same period.
Khulna Power Company’s earnings per share fell by 109 per cent, which was the highest fall among the power sector companies.
Khulna Power incurred a per share loss of Tk 0.24 per share for the nine months of FY22 as against earnings per share of Tk 2.65 in the same period of the previous year as its two power plants—KPC 40MW Noapara Plant and KPC Unit II 115 MW Plant—shut down as power purchase agreements (PPA) expired.
However, recently the government has approved power purchase agreement for two years of these plants on ‘No electricity, No payment’ basis.
Khulna Power incurred a loss of Tk 2.21 crore in the third quarter of FY22 whereas it logged profits of Tk 41 crore in the same period the previous year.
Private Power Generation Company, Doreen Power’s EPS rose by 53.15 per cent, which was the highest jump among the companies during the period.
Doreen Power’s consolidated EPS rose to Tk 8.24 for Jul’21-Mar’22, from Tk 5.38 in the same period a year earlier.
The state-owned company, Padma Oil Company’s EPS was Tk 16.84 for Jul’21-Mar’22 as against Tk 16.23 for the same period of the previous year.
There has been an increase in operating income against product and also an increase in sales volume as compared to last year’s corresponding period.
Jamuna Oil’ EPS was Tk 10.45 for Jul’21-Mar’22 as against Tk 12.65 for the same period of the previous year.
During the period, another listed state-owned company, Meghna Petroleum’ EPS was Tk 19.11 for July 2021-March 2022 as against Tk 17.40 for the same period of FY21.
The consolidated EPS of Summit Power, a subsidiary of Summit Group and the first Bangladeshi Independent Power Producer, stood at Tk 2.85 for the first nine months of FY22, which was 4.18 in the same period a year earlier.
Shahjibazar Power’s consolidated EPS also increased by 25.82 per cent to Tk 5.70 for the July 2021 to March 2022, compared to the same period last year.
United Power Generation and Distribution Company Limited, a subsidiary of United Group, posted consolidated EPS also jumped 16.92 per cent to Tk 17.34 for the July 2021 to March 2022, compared to the same period of the previous year.
In the first nine months of FY22, newly listed company Baraka Patenga Power’s consolidated EPS increased 8.9 per cent on higher income of its own business and its subsidiaries during the period.
The power generator company reported a consolidated EPS of Tk 3.18, which was Tk 2.92 during the period.
Another power company in the group, Baraka Power’s consolidated EPS rose to Tk 2.53, an increase of almost 16 per cent from Tk 2.18 during the period.
GBB Power reported an EPS of Tk0.87 for the nine months, as against Tk1.14 for the same period of the previous year.
Energypac Power’s EPS also fell marginally by 5.75 per cent to Tk 1.31 from July 2021 to March 2022 compared to the same period of the previous year.
Associated Oxygen’s EPS was Tk 1.34 for the period as against Tk 1.59 for July 2020-March 2021.
CVO Petrochemical’s per-share loss was Tk1.75 for Jul’21-Mar’22 as against a negative Tk 1.79 for the same period of the previous year.
Dhaka Electric Supply Company Limited’s (Desco) earnings per share have gone up by 30 per cent in the nine month of FY22 compared to the same period of previous year.
Eastern Lubricants’ EPS fell by 91per cent , Lub-rref (Bangladesh) by 42.46 percent, MJL Bangladesh by 16 per cent , and Titas Gas by 2.35 percent in the first nine months of FY22 when compared to the same period the previous year.
Lub-rref (Bangladesh) said that the EPS has decreased due to a decrease in sales revenue and an increase in corporate tax.
Besides, Intraco Refueling Station’s EPS rose by 23 per cent to Tk 0.73 for Jul’21-Mar’22, from Tk 0.59 in the same period a year earlier.
Meanwhile, Linde Bangladesh’s earnings per share declined by 15.62 per cent to Tk 34.95 in the first nine months of FY22 compared to the same period of the previous year.
