Shipping Corporation’s profit falls 17% in Q1 as vessel fares decline

Bangladesh Shipping Corporation's profit fell 17 percent year-on-year to Tk 50.33 crore in the first quarter of the current fiscal year due to lower vessel fares.

The state-owned corporation made a profit of Tk 60.70 crore in the July-September quarter of 2022–23, it said in a stock exchange filing today.

Bangladesh Shipping Corporation reported consolidated earnings of Tk 3.30 per share for July-September in FY24, compared with Tk 3.98 a year earlier.

It said the EPS has decreased as the vessel fare in the international shipping sector has decreased.

The net operating cash flow per share rose to Tk 7.24 in the July-September quarter from Tk 6.61 a year earlier.