Most listed power generation companies see EPS growth
Most listed power generation companies in the private sector posted moderate earnings growth in July-September 2021, thanks to higher income from subsidiaries and reduced corporate tax rate. Out of the 23 companies listed in the ‘fuel & power’ sector on the Dhaka Stock Exchange (DSE), nine are engaged in power generation owned by private sector people. Eight companies declared their un-audited financial statements as of Monday. Of them, six booked modest profit growth, one dropped slightly while one incurred losses in July-September, 2021 compared to the same period a year earlier, according to statistics from the DSE. EPS is the portion of a company’s profit allocated to each outstanding share of common stock. In short, it serves as an indicator of a company’s profitability. Of the companies, consolidated EPS of Shahjibazar Power rose by 46.89 per cent to Tk 2.13 for July-September 2021, from Tk 1.45 for the same period a year earlier. The company has attributed the EPS rise of considerable amount of profit of investment for using equity method and increase of subsidiary company’s income. Doreen Power’s consolidated EPS also rose to Tk 2.83 for July-September 2021 as against Tk 2.01 for the same period a year ago. Another power company of the Baraka Group, Baraka Power’s consolidated EPS stood at Tk 0.84, an increase of 2.43 per cent, from Tk 0.82 in the same quarter last year. Khulna Power incurred a loss of Tk 0.10 per share in July-September 2021 as against profit of Tk 0.91 per share in the same period last year as its two power plants –KPC 40MW Noapara Plant and KPC Unit II 115 MW plant shut down from May 29 and June 1, 2021 as power purchase agreement (PPA) expired.
Beximco Pharma wins int’l award
Beximco Pharma has won Global Generics & Biosimilars Awards 2021 in the category of Company of the Year, Asia Pacific. The winners were announced at a live ceremony recently at the Stella Polare, Fiera Milano, Milan, Italy. The Company has won this category after competing with the other finalists namely Korea’s leading biosimilar company Samsung Bioepis, Spain-based Exeltis Healthcare APAC and Taiwan’s largest pharma company Lotus pharmaceuticals. Beximco Pharma also won this award in 2019, held in Frankfurt, Germany.
Foreign investors pull $407.91m out of stock market in FY21
Foreign investors pulled $407.91 million or around Tk 3,500 crore of their investments out of the country’s stock market in the fiscal year 2020-2021. The Bangladesh Bank data released on Monday showed that the foreigners purchased equity shares worth $347.4 million or Tk 2,980.69 crore against their sales of equity shares worth $755.31 million or Tk 6,480.56 crore in the fiscal year 2020-2021. Divestment of portfolio investments in FY21 was three times or $275.9 million, equivalent to Tk 2,367.22 crore, higher than the divestment of $132.01 million or Tk 1,132.64 crore in the fiscal year 2019-2020. In FY19, portfolio investors divested shares worth $6.40 million or Tk 54.91 crore in the country’s stock market. Although the US market tumbled for a while in 2020 after the Covid outbreak, it rebounded strongly after April 2020 and the surge continues with the S&P 500 reaching to a record high. The latest BB data on portfolio investments also showed that the stock of such investments, however, grew by 28 per cent or $1.1 billion in FY21. As a result of the bullish trend of the market, portfolio investment stock rose to $5.03 billion at the end of June 2021 from $3.93 billion a year ago. DSEX, the prime index of Dhaka Stock Exchange, increased to 6,150.48 points at the end of June 2021 from 3,986.73 points on July 1, 2020.
Shamima Nargis new BDBL chairman
Former senior secretary Shamima Nargis has joined Bangladesh Development Bank Limited (BDBL) as its chairman, following a recent circular of the Financial Institution Division. Prior to her retirement from the civil service, she served as a member in the Planning Commission in the capacity of senior secretary. During her long career, she also served different ministries and agencies, including Economic Relations Division, finance division, ministry of public administration, local government division and women & children affairs ministry.