During the first half of the current fiscal year, Summit Power Ltd witnessed a significant 30% year-on-year decline in revenue, according to the company’s half-yearly report. Despite the revenue downturn, the independent power producer managed to achieve a 9% growth in profit for the July-December period, attributed to reduced operational expenses. The company’s profit during this period reached Tk182 crore, up from Tk167 crore in the previous year’s same period. Despite the challenges, Summit Power maintained its commitment to shareholders by recommending a 10% cash dividend for the 2022-23 fiscal year. The company’s annual general meeting is scheduled for April 18, where shareholders will vote on the audited financial report and the proposed cash dividend.
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