The net profit of Baraka Power Ltd rose more than 51 per cent year-on-year in the nine months for July, 2019 to March, 2020.
The board of directors of the company in a meeting on Sunday approved the third quarter (Q3) un-audited financial statements of the company for the period that ended on March 31, 2020.
The power generating company’s net profit stood at Tk 126.09 million in three months for January-March, 2020 which was Tk 65.77 million in the same quarter of the previous year, according to an official disclosure on Monday.
The company’s earnings per share (EPS) stood at Tk 0.57 for January-March 2020 as against Tk 0.30 for January-March 2019.
In nine months, the company’s net profit stood at Tk 423.35 million for the period of July, 2019 to March 31, 2020 which was Tk 280.24 million in the same period of year before.
In nine months, the company’s EPS was Tk 1.92 for July 01, 2019 to March 31, 2020 as against Tk 1.27 for July 1, 2018 to March 31, 2019.
Its net operating cash flow per share was Tk 4.58 for July 01, 2019 to March 31, 2020 as against Tk 0.88 for the same period of the previous year.
The net asset value per share was Tk 19.35 as on March 31, 2020.
Baraka Power witnessed an impressive improvement in all financial indicators riding on its subsidiary and associate company’s performance, officials said.
“The significant increase in the all indicators is due to starting of commercial operations of Karnaphuli Power Ltd (subsidiary company) and Baraka Shikalbaha Power (associate company) of Baraka Power and generation revenue by these two companies,” company officials said.
Each share of the company, which was listed on the Dhaka Stock Exchange in 2011, closed at Tk 19.80 on Sunday.
Its share traded between Tk 17.30 and Tk 30.50 in the last one year.
The company disbursed 10 per cent cash dividend for the year ended on June 30, 2019.
The company’s paid-up capital is Tk 2.20 billion and authorised capital is Tk 4.0 billion, while the total number of securities is 220.06 million.
The sponsor-directors own 18.01 per cent stake in company, while the institutional investors own 36.50 per cent and the general public 45.49 per cent as on February 29, 2020, the DSE data showed.
Incorporated in Bangladesh in 2007, Baraka Power is a joint collaboration of local and a group of Non Resident Bangladeshi (NRB) entrepreneur. Baraka Power is the only private sector power generating company developed by a group of NRB investors.