Power Grid Company of Bangladesh Limited (PGCB) has demonstrated a notable turnaround in its financial performance during the first three quarters of the current financial year 2023-24. The company reported a net profit of Tk 197 crore 41 lakh after tax, compared to a net loss of Tk 331 crore 91 lakh in the same period of the previous financial year. This return to profitability is primarily attributed to a reduction in foreign exchange losses.
Reviewing the unaudited financial report for the third quarter of the current financial year (January-March), PGCB’s income stood at Tk 1 thousand 961 crores 53 lakhs, marking an 11 % increase compared to the same period of the previous accounting year. The company’s financial expenditure for the first three quarters amounted to Tk 614 crore 83 lakh, with interest expense at Tk 469 crore 95 lakh and foreign exchange loss at Tk 144 crore 89 lakh.