The Power Grid Company of Bangladesh Ltd faced a significant setback in its financial performance for the fiscal year ending on June 30. The state-run power maintenance firm, which had previously reported a profit of Tk 1.21billion in the prior financial year, has now disclosed a staggering loss of Tk 6.26billion.
This abrupt shift in fortunes resulted in a negative basic earnings per share of Tk 8.79 for the fiscal year 2022-23, a stark contrast to the positive Tk 1.70 reported in the 2021-22 financial year.
Despite this financial downturn, there were some noteworthy changes in the company’s financial indicators. The net asset value per share increased to Tk 159.47 from Tk 133.24 compared to the previous year.
The net operating cash flow per share showed growth, rising to Tk 16.11 in FY23, up from Tk 11.53 in FY22.