Summit Power posts Tk 87 crore profit in second quarter of FY24 

Summit Power Ltd (SPL) recorded a profit of Tk 87.56 crore, up 8 percent year-on-year, in the October-December quarter of the fiscal year. 

The profit was Tk 81.85 crore in the same period of the previous financial year. 

As a result, the consolidated earnings per share (EPS) was Tk 0.82 in the second quarter of 2023-24, up from Tk 0.76 the previous year, according to a filing on the Dhaka Stock Exchange.

SPL's earnings for the first half of the financial year were Tk 182.60 crore, an increase of 9 percent from the previous year's Tk 167.65 crore. Thus, the half-yearly EPS rose to Tk 1.71 from Tk 1.57.  

The private power producer also reported consolidated net operating cash flow per share of Tk 2.21 for July-December of FY24. 

SPL is a subsidiary of Singapore-based holding company Summit Power International (SPI). SPL owns and operates 15 power plants at different locations in Bangladesh with a total installed generation capacity of 975.96 MW.

Shares of SPL rose 2.56 percent to Tk 24 today.