Power Grid revenue rises but profit drops by 24%
In the July-December period of the current fiscal year, PGCB’s total revenue stood at Tk1085.18 crore and profit stood at Tk179.17 crore
Power Grid Company of Bangladesh (PGCB) Limited's revenue has increased by 11.29%, while its net profit has decreased by 24.34% in the first half of fiscal year 2020-2021, compared to those in the same time of the previous year.
On Tuesday, PGCB – an enterprise of the Bangladesh Power Development Board – published its financial statement for the first six months of the current fiscal year after a meeting of its board of directors.
As per the financial statement, in the July-December period of the current fiscal year, PGCB's total revenue stood at Tk1085.18 crore and profit stood at Tk179.17 crore, while its earnings per share (EPS) stood at Tk2.51.
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In the second quarter (October-December) of fiscal year 2020-2021, the company's revenue increased by 14% or Tk60.47 crore, but its profit decreased by 26% or Tk27.4 crore, compared to that of the same time period of the previous fiscal year.
In the first half of the fiscal year 2019-2020, the company's revenue was Tk975.06 crore, profit was Tk236.82 crore and EPS was Tk3.32.
PGCB was listed on the country's stock exchanges in 2006. Now it is placed in the "A" category. The state-owned company PGCB is making profit on a regular basis.
In the fiscal year 2019-20, its net profit was Tk317 crore, which was Tk383.99 crore in the previous fiscal year.
As of December 2020, the sponsors and directors held 84.43% of PGCB's shares. Of the remaining shares of the company, institutional investors held 12.34%, foreign investors 0.13% and general investors 3.10%.
