Meghna Petroleum’s H1 profit tops Tk300cr on FDR income
The sharp rise in profit was mainly driven by higher income from fixed deposit receipts (FDRs) amid rising interest rates
Meghna Petroleum, a state-owned fuel supplier, reported a profit of Tk301 crore in the first half of the current fiscal year, posting a 59% year-on-year growth.
The sharp rise in profit was mainly driven by higher income from fixed deposit receipts (FDRs) amid rising interest rates.
The company's earnings per share (EPS) also jumped to Tk27.82 in H1 of FY25, up from Tk17.48 in the same period of FY24.
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According to its un-audited financial report, its net profit during the July to December period of FY24 was Tk189 crore.
Meanwhile, the company's quarterly report showed that its non-operating income, primarily gained from FDRs, grew by 48.68% to Tk332 crore in the July to December period of FY25.
The oil supplier holds over Tk2,590 crore in FDRs across multiple banks, with Tk1,002 crore in long-term investments and Tk1,588.32 crore in short-term investments, according to its financials as of 31 December 2024.
In the second quarter of FY25 (October–December 2024), the company's profit increased by 66% to Tk163.32 crore. During this period, non-operating income surged by 48% to Tk184.83 crore, compared to Tk124.61 crore in the same quarter of the previous fiscal year.
For the full fiscal year of 2023–24, Meghna Petroleum reported a net profit of Tk542.29 crore, up from Tk442.14 crore in FY23.
Riding on its profit growth, it paid a 170% cash dividend to its shareholders.
Today, its share price closed at Tk206.30, marking a 0.54% increase from the previous trading session.
