Power Grid Company of Bangladesh Ltd's profit plunged 61.77 per cent year-on-year to Tk 122.59 crore in the financial year that ended on June 30.

The state-run electricity transmission and distribution service provider made a profit of Tk 320.73 crore in 2020-21.

The company reported earnings per share of Tk 1.72 in the last financial year, down from Tk 4.50 in 2020-21.

The board of directors has recommended a 10 per cent cash dividend for general shareholders for 2021-22.

Power Grid Company also published its unaudited financial statements for the first quarter of 2022-23.

It posted a profit of Tk 104.06 crore in the July-September quarter, which was Tk 129.72 crore during the identical period a year earlier.

Thus, it reported an EPS of Tk 1.46 for the quarter. It was Tk 1.82 a year ago.

The EPS decreased due to an increase in expenses, said Power Grid Company in a filing on the Dhaka Stock Exchange today.