Bangladesh Shipping Corporation profit drops 16% in Jan-Mar
According to the company’s unaudited financial statements, quarterly revenue rose 19% to Tk158.63 crore
Bangladesh Shipping Corporation reported a 16% year-on-year decline in net profit for the January-March quarter of FY2025-26, as a sharp fall in interest income from fixed deposits offset strong revenue growth.
According to the company's unaudited financial statements, quarterly revenue rose 19% to Tk158.63 crore. However, net profit dropped to Tk63.79 crore from the corresponding period last year, with earnings per share (EPS) falling to Tk4.18 from Tk4.95.
The state-run shipping company said income from Fixed Deposit Receipts (FDRs) plunged 60% to Tk25.51 crore during the quarter after it utilised a large portion of its cash reserves to finance fleet expansion.
In September 2025, the BSC board approved the purchase of two bulk carriers from China at a cost of $76.7 million, or around Tk935 crore – the first vessel acquisition funded largely through the company's own resources. To finance the move, BSC withdrew nearly Tk700 crore from its FDR accounts, while the remaining amount was arranged through borrowing.
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For the first nine months of FY26, BSC's revenue increased 7% to Tk459 crore, though cumulative net profit declined 9% to Tk200 crore.
Its net asset value (NAV) per share rose to Tk115.45 due to higher retained earnings, while net operating cash flow per share (NOCFPS) fell to Tk16.80 amid higher interest expenses and supplier payments.
The corporation is also facing geopolitical risks in international shipping operations. Its vessel, MV Banglar Joyjatra, has remained stranded at Jebel Ali Port since 11 March with 31 Bangladeshi sailors onboard due to escalating Iran-US-Israel tensions. The incident comes years after the 2022 missile strike on MV Banglar Samriddhi at Ukraine's Olvia port.
Despite the temporary pressure on profitability, company insiders said the new vessel acquisition is expected to strengthen BSC's long-term operational capacity and reduce dependence on chartered ships. BSC shares closed 0.48% lower at Tk103.40 on Thursday at the Dhaka Stock Exchange.
