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The Financial Express

Bangladesh Submarine Cable's EPS jumps 61pc

FE REPORT | Published: June 27, 2020 11:12:33 | Updated: June 29, 2020 10:08:26


Bangladesh Submarine Cable's EPS jumps 61pc

Bangladesh Submarine Cable Company's earnings per share (EPS) rose 61 per cent year-on-year in nine months that ended in March, 2020 as revenue increased during the period under review.

The board of directors of the company in a meeting held Thursday approved, among others, the financial statements (un-audited) for the third quarter (Q3) ended on March 31, 2020, said an official disclosure on Friday.

As per the disclosure, the state-run company's earnings per share (EPS) stood at Tk 3.98 for July 2019-March 2020 as against Tk 2.47 for July 2018-March 2019.

In three months for January-March 2020, its EPS was Tk 1.72 as against Tk 1.04 for January-March 2019.

The company's net operating cash flow per share (NOCFPS) was Tk 5.81 for July 2019-March 2020 as against Tk 5.02 for July 2018-March 2019.

The company's net asset value (NAV) per share was Tk 41.12 for July 2019-March 2020 as against Tk 38.74 for July 2018-March 2019.

The company has informed that Bangladesh Submarine Cable Company's turnover is mainly comprised of IPLC Rent, IP Transit Service and Co-location Service.

The BSCCL has implemented Regional Submarine Telecommunications Projects, Bangladesh (SMW-5) project and started providing service commercially through the system during the period under consideration.

Besides, substantial effort of BSCCL's management, the government policy of digitalization of government service and introduction 4G services contributed to increase in overall IPLC consumption in the country. Consequently, the BSCCL's revenue also increased, said the disclosure.

The EPS has been increased due to increase in revenue and there was no significant additional expenditure against the increased revenue. On the other hand, expenditure has been reduced in some heads of expenditure, the disclosure added.

Each share of company, which was listed on the Dhaka bourse in 2012, closed at Tk 79.50 on Thursday. In the last one year, its share traded between Tk 65.60 and Tk 142.90 per share.

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