United Power’s profit declines 21% in H1
The company said in its statement that consolidated profit decreased mainly due to incurring a significant amount of exchange loss in foreign currency transactions
United Power Generation and Distribution Company Limited disclosed a 21% decrease in its net profit for the July-December period of the 2023-24 fiscal year, in contrast to the corresponding period in the previous year.
As per the financial statement published on its website today (31 January), the independent power producer reported a consolidated net profit of Tk462.57 crore and earnings per share of Tk7.84 in the first half of FY2024. This reflects a decrease from Tk585.93 crore and Tk9.85, respectively, recorded during the corresponding period a year ago.
Besides, its consolidated revenue also fell over 16% year-on-year to Tk1,877 crore in the July-December last year.
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The company said in its statement that consolidated profit decreased mainly due to incurring a significant amount of exchange loss in foreign currency transactions.
Shares of United Power witnessed a 1.13% decline, settling at Tk175.30 each at the Dhaka Stock Exchange (DSE) today.
