A large independent power producer named United Power Generation and Distribution Company Limited (UPGDCL) recorded a 16.18% decline in net profit in the first half of the current fiscal year. The power producer’s consolidated net profit decreased from Tk 699 crore in the same period last year to Tk 585.93 crore in the first half of FY23.
According to the company’s unaudited financial statement, the private-sector company reported revenues of Tk 2,247 crore in the first half of FY23, up from Tk 2,079 crore in the same period last fiscal. United Power’s consolidated earnings per share (EPS) decreased as well, from Tk 11.84 in the same period last year to Tk 9.85 in the first half of FY23.
In the October to December quarter of the current fiscal year, its consolidated net profit was Tk 290 crore and earnings per share were Tk 4.84, both lower than the Tk 403 crore and Tk 6.85 respectively in the same quarter last year. Revenues from power generation and distribution decreased by over 15% YoY in the second quarter of FY23, to Tk 1041 crore.
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