The power supply company has incurred a loss of Tk27.74 crore
Dhaka Electric Supply Company Limited's (Desco) earnings per share (EPS) has fallen by 130% in the third quarter (January-March) of FY20 compared to the same period of previous year.
According to an official disclosure posted by the companies concerned on Dhaka Stock Exchange (DSE) website on Thursday, the company's per share loss was Tk0.07 for January-March 2020 period which was Tk0.23 earnings per share (EPS) for January-March'19.
As a result, the company's EPS decreased by Tk0.30 or 130%.
The power supply company has incurred a loss of Tk27.74 crore in the three months, in the same period last year it made a profit of Tk9.33 crore.
When contacted, a high-level official of Desco wishing to be anonymous told Dhaka tribune that the significant fall of profit was mainly caused due to the increase in operating cost of the period.
On the other hand, the company's EPS was Tk1.37 for nine months (July'19-March'20) as against Tk1.98 for the same period before that. Its net asset value (NAV) per share was Tk46.67 as on March 31, 2020.
Desco distributes electricity to the northern parts of Dhaka City. The government owns 67.63% stake in the company, while the institutional investors own 23.69%, foreign 0.22% and the general public own 8.46%.
Desco was listed on the Dhaka Stock Exchange in 2006. The power sector company belongs to “A” category.
The company’s paid-up capital is Tk397 Crore. A share of the company closed at Tk 34.80 each on Thursday.
The company disbursed 12% cash dividend for the year that ended on June 30, 2019.