Shipping Corp’s profit nearly triples

Earnings of Bangladesh Shipping Corporation (BSC) rose 183 per cent year-on-year in the January-March quarter of the current financial year on the back of a significant increase in fares in the shipping sector internationally.

The state-run organisation reported earnings per share (EPS) of Tk 3.31 for the quarter, which was Tk 1.17 in the same period last year, according to its unaudited financial report.

In a regulatory filing on the Dhaka Stock Exchange yesterday, the company said the EPS had increased significantly during the period compared to last year as shipping fares saw a sharp rise globally.

The EPS was Tk 11.59 in the first nine months of the ongoing financial year ending in June, up 310 per cent from Tk 2.83 a year prior.

The net asset value, which represents the net value of an entity, was Tk 69.31 per share as on March 31. It was Tk 60.28 as on June 30 last year.

Shares of the corporation closed 5.04 per cent higher at Tk 118.70 on the DSE yesterday.