Desco earnings dip 48pc

The earnings of Dhaka Electric Supply Company (Desco) plunged about 48 per cent in the third quarter of the current fiscal year because of an increase in energy cost and expenses.

Earnings per share (EPS), which serves as an indicator of a company's profitability, for the state-run utility company was Tk 0.12 in the January-March quarter.

It was Tk 0.23 in the same period last year, the company said in a Dhaka Stock Exchange website post yesterday.

The EPS was Tk 0.43 in the first nine months of FY21, down 68.61 per cent year-on-year from Tk 1.37.

The EPS declined due to an increase in energy purchase and a spike in operating, administrative and employee expenses, said Desco, which serves more than 10.53 lakh customers in Gulshan, Mirpur and Uttara areas.

The net operating cash flow per share (NOCFPS) rose to Tk 10.84 in the nine-month period from Tk 8.66 during the same period a year ago.

The company credited the rise in sales revenue and receipts from other operating and non-operating activities for the higher NOCFPS.  

Its net asset value per share stood at Tk 46.42 as on March 31 this year against Tk 46.76 as on June 30 last year.

Desco shares ended 1.72 per cent lower at Tk 34.30 at the DSE yesterday.