ICB suffers 46% profit fall in FY23

The Investment Corporation of Bangladesh (ICB) suffered a 46 percent year-on-year decline in profit to Tk 77.84 crore in the financial year that ended on June 30.

The profit stood at Tk 144.68 crore in the previous financial year, the state-owned company said in a disclosure on the Dhaka Stock Exchange today.

Thus, the investment company reported earnings per share of Tk 0.92 for FY23 against Tk 1.71 a year ago.

The net asset value per share rose to Tk 53.34 from Tk 52.94 while the net operating cash flow per share increased to Tk 1.33 in FY23 from Tk 0.86 negative the previous year.

The EPS decreased owing to a fall in capital gains, fees, commission and service charges while the NOCFPS rose due to a decline in interest payments and payments against troubled debt restructurings, ICB said.