The government has extended the power purchase agreement for Summit Power Limited’s Ashulia, Chandina, and Madhobdi power plants for another 5 years. These plants collectively generate an average of 10 MW. Summit Power owns and operates 15 power plants with a total capacity of 976 megawatts, making it Bangladesh’s largest private sector power producer.
Despite its leading position, Summit Power reported a 28% decline in earnings per share (EPS) for the first nine months of the fiscal year 2023, with EPS falling from Tk 2.85 to Tk 2.05 year-on-year. The company’s net profit for the same period dropped from Tk 304.34 crore to Tk 219 crore.
However, its consolidated net asset value per share increased to Tk 37.68 as of March 2023 from Tk 35.72 in the previous fiscal year. Summit Power’s improved net operating cash flow per share, rising from Tk 4.03 to Tk 4.82, suggests stability despite the decline in EPS. Summit Power’s stock closed at Tk 34 on the Dhaka Stock Exchange.
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