United Power registers earnings drop in Q2

United Power said its earnings fell 29 per cent year-on-year to Tk 280.57 crore in the October-December period of 2022-23 as it did not receive dividends from its subsidiaries.

The private power generation and distribution company logged Tk 397.09 crore profit in the identical quarter of the previous financial year.

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Thus, it reported earnings per share of Tk 4.84 in the second quarter of the current financial year, down from Tk 6.85 in the same three-month period a year ago, according to a posting by United Power Generation & Distribution Company Ltd on the Dhaka Stock Exchange yesterday.

"The EPS was lower mainly for not receiving dividends from subsidiaries," it said.

The profit declined by 16 per cent year-on-year to Tk 570.99 crore in the first half of 2022-23. It was Tk 686.36 crore in the July-December period of 2021-22.

United Power shares were unchanged at Tk 233.70 on the DSE yesterday.