Listed state-run power cos show mixed performance

Dhaka,  Monday,   2016-09-16
Published : 16 Sep 2016, 21:48:44

Listed state-run power cos show mixed performance

FE Report


The state-owned fuel and power sector listed companies showed mixed performances in their earning in the third quarter (Q3) for January-March period of 2016, compared to the same period in the previous year, data showed.

Presently, a total of seven state-run companies are listed on the fuel & power sector on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE).

The companies are: DESCO, Eastern Lubricants, Jamuna Oil, Padma Oil, Meghna Petroleum, Power Grid Company and Titas Gas Transmission and Distribution Company.

Of them, four companies posted higher earnings, while three companies' earning fell marginally in the January-March period of 2016 compared to the same period a year ago, the DSE data showed.

Earnings per share (EPS) of Eastern Lubricants, Jamuna Oil, Padma Oil and Meghna Petroleum increased, while earning of DESCO, Power Grid Company and Titas Gas fell marginally in January-March period of 2016, compared to the same period a year ago.

As per (un-audited) financial reports for January-March period of 2016, Eastern Lubricant's earnings per share (EPS) was Tk 16.09 as against Tk 0.73 for January-March period of 2015. In nine months for July, 2015 to March, 2016, EPS was Tk 26.75 as against Tk 2.29 for July, 2014-March, 2015.

Jamuna Oil Company's EPS was Tk 3.04 for January-March period of 2016 as against Tk 2.38 for the same period a year ago. EPS was Tk 11.42 for nine months July, 2015 to March, 2016 as against Tk 12.97 for July, 2014-March, 2015.

EPS of Padma Oil Company stood at Tk 3.80 for January-March, 2016 as against Tk 3.02 for January-March, 2015. In nine months for July, 2015 to March, 2016, EPS was Tk 11.30 as against Tk 12.02 for July, 2014-March, 2015.

Meghna Petroleum's EPS was Tk 4.89 for January-March, 2016 as against Tk 3.51 for January-March period of 2015. EPS was Tk 13.28 for July, 2015-March, 2016 as against Tk 13.07 for July, 2014-March, 2015.

Net operating cash flow per share (NOCFPS) of Meghna Petroleum was Tk 16.39 for July, 2015-March, 2016 as against Tk 9.76 for July, 2014-March, 2015. Net asset value (NAV) per share was Tk 77.29 as of March 31, 2016 and Tk 74.51 as of June 30, 2015.

DESCO's EPS was Tk (0.24) for January-March, 2016 as against Tk 0.77 for January-March, 2015. In nine months, EPS was Tk 1.12 for July, 2015-March, 2016 as against Tk 2.90 for July, 2014-March, 2015.

The Power Grid Company's EPS stood at Tk 0.65 for January-March, 2016 as against Tk 0.72 for January-March, 2015. EPS was Tk 1.95 for July, 2015-March, 2016 as against Tk (0.11) for July, 2014-March, 2015.

Titas Gas's EPS was Tk 0.96 for January-March, 2016 as against Tk 1.87 for January-March, 2015. EPS was Tk 2.85 for July, 2015-March, 2016 as against Tk 6.19 for July, 2014-March, 2015.

Market operators said though the state-run power companies showed mixed performance in earning, the fuel and power sector grabbed the investors' attention as a good number of private power companies are performing well during the last few years.

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