The third quarter earnings (January-March 2021) of United Power Generation & Distribution Company more than doubled as it acquired 99 per cent shares of two power plants.
The board of directors of the company has approved the un-audited third quarter (Q3) 'consolidated financial statements' for the period ended on March 31, 2021 at a meeting held on Monday, according to an official disclosure on Tuesday.
The power generation company's revenue jumped to Tk 8.87 billion for January-March, 2021 quarter as against Tk 2.59 billion in the same quarter of the previous year.
The company's nine months' revenue also soared 210 per cent year-on-year to Tk 24.85 billion for July 2020 to March 2021 due to the inclusion of two power plants -United Anwara Power and United Jamalpur Power.
The company's consolidated profit (un-audited) for January-March, 2021 period stood at Tk 3.16 billion which was Tk 1.58 billion in the same quarter of the previous year.
The company's consolidated earnings per share (EPS) stood at Tk 5.33 for January-March 2021 which was Tk 2.66 for January-March 2020.
The company's nine months' consolidated profit (un-audited) stood at Tk 8.78 billion as against Tk 4.82 billion in the same period of the previous year.
In nine months for July 2020-March 2021, the company's consolidated EPS was Tk 14.83 which was Tk 8.13 for July 2019-March 2020.
The consolidated net operating cash flow per share (NOCFPS) was Tk 16.75 for July 2020-March 2021 which was Tk 10.08 for July 2019-March 2020.
Its consolidated net asset value (NAV) per share was Tk 52.20 as on March 31, 2021 and Tk 50.56 as on June 30, 2020.
The company also informed that United Power acquired 99 per cent shares of United Anwara Power (UAnPL) and United Jamalpur Power (UJPL) with effect from July 01, 2020.
UAnPL is a 300 MW power plant while UJPL is a 115 MW power plant.
The company also informed that major changes in consolidated EPS, NOCFPS and NAV from the same period of the previous year in due to the inclusion of nine months performance of United Anwara Power and United Jamalpur Power.
Each share of the company, which was listed on the Dhaka bourse in 2015 under the book building method, closed at Tk 278.90 on Tuesday, losing 0.92 per cent.
Its shares traded between Tk 220.20 and Tk 335.90 in the last one year.
United Power disbursed 145 per cent cash and 10 per cent stock dividends for the year ended on June 30, 2020.
The company's paid-up capital is Tk 5.79 billion and authorised capital is Tk 10 billion while the total number of securities 579.69 million.
Sponsor-directors own 90 per cent stake in the company and institutional investors 7.19 per cent, foreign investors 0.04 per cent and the general public 2.77 per cent as of March 31, 2021, the DSE data showed.
The principal activity of the company is electricity generation and mostly supplies to Dhaka and Chittagong export processing zones. The company also supplies and sells electricity directly to private companies.
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