Padma Oil logs Tk395cr profit in nine months
Padma Oil’s share closed 0.28% higher at Tk181.70 Thursday
The state-owned oil distributor, Padma Oil Company Limited, has reported a 62% surge in profit to Tk394.85 crore in the first nine months of the current fiscal year, driven largely by non-operating income from fixed deposit receipts (FDRs) in banks.
According to its financial statement, approved at the board meeting held on Saturday, the profit was recorded during the July–March period of FY25, up from Tk243.83 crore in the same period a year earlier.
Padma Oil's earnings per share (EPS) rose to Tk40.20, compared to Tk24.88 during the corresponding period of FY24.
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Non-operating income, primarily from FDRs, grew by 55% to Tk426.56 crore amid rising interest rates.
The company maintains Tk5,734 crore in deposits across banks and non-bank financial institutions, which substantially boosts its net profits and enables it to pay generous dividends every year.
In FY24, Padma Oil paid a record 140% cash dividend, the highest in its history. The company had earlier paid a 135% cash dividend for FY23, while its largest payout was a 200% stock dividend declared in FY09.
At the Dhaka Stock Exchange, Padma Oil's share price closed 0.28% higher at Tk181.70 on Thursday.
Listed in 1976, the company's shareholding is divided among the government (50.35%), institutional investors (31.60%), general investors (15.93%), sponsors and directors (2.06%), and foreign investors (0.06%).
