Meghna Petroleum experienced a 40% YoY increase in profit to Tk 4.42 billion, attributed to a substantial rise in non-operating income from bank deposits. The general manager of Meghna Petroleum noted a significant gain in non-operating income due to substantial funds held in commercial banks.
The company’s financial statement reveals a consistent trend of higher income from non-operating sources than from its core operations. In FY2022, the company earned Tk 2.57 billion from operations and Tk 3.03 billion from non-operating sources. In FY2023, a 160% cash dividend was declared, which was the highest in a decade. The stock traded at Tk 205.3 on the Dhaka Stock Exchange. The company’s financial statement for FY2023 has yet to be published. However, the first nine months through March showed a 40% YoY growth in non-operating income, while operating income increased only 5.68%.
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