Desco posts lower profit in 2021-22

Dhaka Electric Supply Company Ltd (Desco) posted a 14.50 per cent decline in profit in the financial year that ended on June 30.

The state-run power supplier reported earnings per share of Tk 1.59 in 2021-22, down from Tk 1.86 recorded during the previous financial year of 2020-21. 

The EPS decreased due to the higher deferred tax provision made as per income tax law, according to a filing on the Dhaka Stock Exchange today. 

Net asset value per share, however, improved to Tk 65.96 from Tk 65.24 a year earlier. 

Net operating cash flow per share fell to Tk 13.09 from Tk 14.82 in FY21. 

The NOCFPS decreased as the company paid Tk 523 crore more for energy purchase but received Tk 262 crore more for energy sales compared to FY21, said the filing.

The board has recommended a 10 per cent cash dividend for the last financial year.