BSCCPLC Boosts Earnings by Tk 25.69 Crore in First Quarter of FY 2024–25

The state-owned telecom enterprise, Bangladesh Submarine Cables Company Limited (BSCCPLC), listed on the capital market, reported a notable rise in income during the first quarter of the current fiscal year compared to the same period last year.

According to the financial report presented at the company’s 247th Board Meeting, held on Thursday, November 13, at the conference room of the Posts and Telecommunications Division in the Secretariat, BSCCPLC’s income rose by Tk 25.69 crore in the first quarter.

The report showed that, for the quarter ending on September 30, the company earned a total revenue of Tk 122.58 crore and posted a net profit after tax of Tk 685.82 crore—one and a half times higher than that of the corresponding quarter of the previous fiscal year.

Additionally, the company’s asset value increased by Tk 68.62 crore 10 thousand, while the price per share rose by Tk 3.67.

The assessment of the report indicates that in calculating BSCCPLC’s diluted earnings per share, a total of 20,298,144 potential shares were considered. The government, as part of its equity investment in the implementation of the Third Submarine Cable Expansion Project, contributed Tk 24.96 crore, Tk 61.28 crore, Tk 33.00 crore, and Tk 33.00 crore during the fiscal years 2021–22, 2022–23, 2023–24, and 2024–25 respectively.

The issue price for the equity shares under this investment was set at Tk 75 per share (including a face value of Tk 10 and a premium of Tk 65). The process was executed with prior approval from the Finance Division of the Ministry of Finance, the Posts and Telecommunications Division, and the Bangladesh Securities and Exchange Commission.

DBTech/IH/OR