ICB posts significant loss of Tk153cr in first quarter
The Investment Corporation of Bangladesh (ICB) reported a significant consolidated loss of Tk153.22 crore in the July–September quarter of the current fiscal year. The loss was mainly driven by a sharp decline in interest income, dividend income, and capital gains from the sale of securities compared to the same period of the previous year.
Once a highly profitable state-owned investment institution, ICB had reported a consolidated loss of Tk75.29 crore during the same quarter of the previous fiscal year.
In the latest quarter, its consolidated per-share loss stood at Tk1.77, up from Tk0.87 in the same period last year. On a solo basis, the corporation incurred a loss of Tk156.42 crore, which was higher than the Tk95.41 crore loss recorded in the corresponding quarter of the previous year. Its solo per-share loss widened to Tk1.80 from Tk1.10 a year ago.
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On Wednesday, ICB's share price declined by 3.23% to close at Tk36 on the Dhaka Stock Exchange.
