Summit Power, the largest private sector listed power generation company, yesterday reported higher earnings per share (EPS), while earnings of United Power Generation went down in the first six months of the current fiscal year (FY20).
Out of the 19 listed companies in the fuel and power sector, seven are engaged in power generation. All are owned by private sector people.
Yesterday, all seven companies disclosed their financial statements, where four companies saw higher EPS and the rest three witnessed negative income growth in July-December’19 compared to the same period of last year, according to the Dhaka Stock Exchange (DSE) data.
According to the un-audited report of Summit Power Limited, the company registered higher income growth in the six months. The consolidated half yearly EPS was Tk2.84 against Tk2.54 for the same period of previous year.
The board of directors of Summit Power declared 15% interim cash dividend yesterday for the year ending on June 30, 2020 based on un-audited financial statements for the first six months of the current fiscal year.
Each share of Summit Power soared by 4.08% after the declaration, closing at Tk41.20 on the day (Sunday). The company’s paid-up capital is Tk1,067crore.
Talking to Dhaka Tribune, market insiders said most of the listed companies’ earnings were healthier this time. The government is relying more on private sector companies for power generation.
Meanwhile, the United Power Generation consolidated EPS was Tk6.02 for July-December’19 as against Tk8.48 for the same period of previous year. The company’s earnings declined by 29% during the period.
Share of United Power fell by 3.55% or Tk9.2, closing at Tk250.60 on the day. The company’s paid-up capital is Tk526 crore.
As per Baraka Power Limited’s disclosure, the company’s consolidated EPS was Tk1.35 for the first six months of current fiscal year against Tk0.97 for the same period of the previous year.
The Shahjibazar Power Co Ltd’s consolidated EPS was Tk 2.22 for July-December’19 as against Tk2.04 for the same period of previous year.
According to the financial statement of GBB Power Ltd, the company also registered higher income growth in the six months (July-December’19). The consolidated half yearly EPS was Tk0.55 against Tk0.46 for the same period of previous year.
On the contrary, the EPS of United Power Generation and Distribution Company Limited, Khulna Power Company and Doreen Power Generations and Systems Limited registered negative growth in the first six months of the current fiscal year.
The Khulna Power consolidated earnings per share was Tk1.96 for July-December’19 as against Tk2.28 for the same period of previous year.
Another private sector power generation company Doreen Power Generations and Systems Limited also registered negative growth in the first six months of the current fiscal year.
As per Doreen Power’s disclosure, the company’s consolidated EPS was Tk3.31 in the July-December’19 period as against Tk 3.43 for the same period of previous year.
