InterContinental Hotel’s losses narrow to Tk38cr in H1

Bangladesh Services Limited (BSL), the owner of InterContinental Dhaka, has reported a 24% year-on-year reduction in losses in the first half of the current fiscal year, though the state-run hospitality firm continues to struggle with heavy debt and accumulated losses.

According to its disclosure, it incurred a loss of Tk38 crore with the loss per share of Tk3.95 in the July to December period of 2025-26.  It had incurred Tk50.85 crore loss with per share loss of Tk5.20 in H1 of 2024-25.

In the second quarter during October–December, the company incurred a loss of Tk12.61 crore, with a loss per share of Tk1.29. In the corresponding quarter of the previous fiscal year (FY25), it had posted a higher loss of Tk18 crore, with a per share loss of Tk1.85.

Its net asset value per share at the end of December increased to Tk2.58, which was Tk1.97 for the July-December of 2024. While its net asset value per share stood at Tk215.79 as of December 2025, which is lower from Tk219.74 as of 30 June 2025, it data showed.

Despite the improvement in half-year performance, Bangladesh Services Limited remains under significant financial strain.

The travel and leisure sector-listed firm has been incurring losses for years amid a business slowdown and the burden of substantial loans taken for renovation. Its long-term loans and borrowings swelled to over Tk800 crore by June 2025, according to its latest annual report.

As of June 2025, accumulated losses stood at Tk706 crore, including an additional Tk87.38 crore loss in FY25. The company has failed to declare dividends for years due to continuous losses.

Its auditor said its accumulated losses for FY25 stood at Tk706 and a current assets deficit of Tk308 crore.

In addition, the company has loans of Tk908 crore and debt equity ratio of 0.42. These matters indicate the existence of a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern, the auditor said.