Shahjibazar Power posts 55% growth in Q3 profit
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THURSDAY, FEBRUARY 02, 2023
Shahjibazar Power posts 55% growth in Q3 profit

Stocks

TBS Report
07 May, 2022, 08:05 pm
Last modified: 07 May, 2022, 08:10 pm

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Shahjibazar Power posts 55% growth in Q3 profit

The company’s earnings per share (EPS) stood at Tk2.30 and net asset value (NAV) at Tk28.67 as of March 2022

TBS Report
07 May, 2022, 08:05 pm
Last modified: 07 May, 2022, 08:10 pm
Shahjibazar Power posts 55% growth in Q3 profit

Shahjibazar Power Company Limited has posted an impressive net profit in the third quarter (January to March) of the current fiscal year 2021-22 owing to reduced operating costs.

During the period, the net profit of the company was Tk41.20 crore, which was Tk26.50 crore in the same period of FY 2020-21.

Consequently, its revenue stood at Tk64.19 crore, which was Tk52.46 crore in the last fiscal.

Moreover, its consolidated net profit stood at Tk45.51 crore and the consolidated revenue at Tk180.28 crore.

According to financial statements, the power company's operating cost, especially the cost of goods sold (COGS), administrative expenses, and financing cost (FC), has been reduced.

During the period, the cost of goods sold has dropped by 8.39% compared to the same period of the previous fiscal year. Likewise, its administrative expenses and financing costs fell by 13% and 6% respectively.

The company's earnings per share (EPS) stood at Tk2.30 and net asset value (NAV) at Tk28.67 as of March 2022.

Shahjibazar Power Company Limited has 86 MW power plants and started commercial production on 10 February 2009. It supplies electricity to Bangladesh Power Development Board (BPDB).

The company also produces and supplies petroleum products like liquid petroleum gas, special boiling point solvent, mineral turpentine, high-speed diesel, kerosene, octane, and fuel gas to Bangladesh Petroleum Corporation.

Shahjibazar has a 90% owned subsidiary company named Petromax Refinery Limited. It also has an associate company named Midland Power Company Limited.

Sponsors and directors of Shahjibazar Power Company Ltd hold 60.29% of the company's shares, while institutional investors hold 16.44%, and general investors hold 23.27%.

At the end of Thursday's trading session, the closing price of its share stood at Tk80.60 each at the Dhaka Stock Exchange (DSE).

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