Desco posts lower profit in 2021-22

Dhaka Electric Supply Company Ltd (Desco) posted a 14.50 per cent decline in profit in the financial year that ended on June 30. 

The state-run power supplier made a profit of Tk 63.21 crore in 2021-22, which was Tk 73.94 crore a year earlier.

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Thus, it reported earnings per share of Tk 1.59 in the last financial year, down from Tk 1.86 recorded in 2020-21.

The EPS fell due to the higher deferred tax provision made as per income tax law, according to a filing on the Dhaka Stock Exchange (DSE) yesterday.

The net asset value per share, however, improved to Tk 65.96 from Tk 65.24 a year earlier.

The NOCFPS decreased as the company paid Tk 523 crore more for energy purchase but received Tk 262 crore more for energy sales compared to 2020-21, said the filing.

The board has recommended a 10 per cent cash dividend for the last financial year.

Shares of Desco closed unchanged at Tk 36.60 on the DSE yesterday.