Doreen Power sees 76% profit jump
According to its financials, it made a profit of Tk58 crore with an earnings per share (EPS) of Tk3.19, which was Tk32.75 crore and EPS of Tk1.81
Doreen Power Generation and Systems, an independent power producer, has reported a consolidated profit growth of 76% for the fiscal year 2024-25, primarily driven by significant revenue growth in its subsidiary companies.
The power producer recommended a 10% cash dividend, meaning that shareholders will get Tk1 against each share.
According to its financials, it made a profit of Tk58 crore with an earnings per share (EPS) of Tk3.19, which was Tk32.75 crore and EPS of Tk1.81.
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In FY24, it had paid a 10% cash dividend to all shareholders excluding the sponsors and director shareholders.
The power producer made over Tk100 crore profit in FY21 and FY22. In FY23 and FY24, it witnessed gradual declines in profit, and it saw profit surge again in FY25.
The fuel and power sector company, regarding the profit surges in FY25, said that EPS increased due to a significant increase in sales revenue of three subsidiary companies, as demand for electricity from customers was higher than the previous year, as well as a decrease in currency exchange loss for a stable exchange rate of the taka against the US dollar and the euro.
The consolidated net operating cash flow per share decreased to Tk11.78, lower from Tk20.03 in the previous fiscal year.
The company said its cash flow decreased due to a significant decline in the receipt of revenue bills from customers compared to last year.
The annual general meeting (AGM) of the company has been scheduled for 30 December through the digital platform and to identify its shareholders, a record date has been fixed for 19 November.
On Thursday, share prices of Doreen Power closed at Tk27.70 each on the Dhaka Stock Exchange (DSE), a 1.42% down from the previous trading session.
