United Power logs Tk 312 crore profit in Q3

United Power Generation & Distribution Company Ltd (UPGDCL), Bangladesh's first commercially independent electricity producer, recorded a 25 percent year-on-year increase in profit in January-March of the current financial year. 

The company's profit rose to Tk 312.45 crore from Tk 248.1 crore in the third quarter of 2022-23. Therefore, consolidated earnings per share (EPS) climbed to Tk 5.39 from Tk 4.28, according to a filing on the Dhaka Stock Exchange. 

However, the consolidated EPS dropped to Tk 13.22 for July-March of 2023-24 from Tk 14.13 in the identical nine-month period of FY23.

The company's consolidated net operating cash flow per share was Tk 7.65 for the first nine months of FY24, a significant decrease from Tk 13.07 from last year.

UPGDCL, formerly known as Malancha Holdings Limited, was incorporated in 2007 as a private limited company and became a public limited company in 2010. It has expanded its generation capacity to 160 MW to meet the rising electricity demand.

Shares of the company started trading today at Tk 122.9 but soared 8.95 percent at one point. It, however, closed 3.99 percent to Tk 127.80.