ICB returns to Tk26cr profit in Oct-Dec
The company’s standalone profit was Tk15.28 crore during the first half of the last fiscal year
The Investment Corporation of Bangladesh (ICB) returned to Tk25.91 crore profit in the October-December quarter after witnessing a shocking first quarter.
However, the company posted a Tk211 crore loss during the first half of the current fiscal year thanks to a staggering Tk236 crore loss in the July-September period, according to the state-run company's financial statement approved by its board of directors on Monday.
In the first quarter, lower capital gains due to prevalence of floor price, the lowest limit of shares price set by the regulator, actually drove ICB, one of the largest investors in the capital market, to suffer a heavy loss.
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On 18 January, the stock market regulator Bangladesh Securities and Exchange Commission (BSEC) withdrew floor price except for 35 stocks. Later, it lifted floor price from 23 stocks and now the floor is applicable for 12 stocks only.
In contrast to Tk211 crore consolidated loss during the first half of FY24, the ICB saw a profit of Tk46 crore in July-December period of FY23. The half-yearly loss per share stood at Tk2.44.
ICB's total loss, however, stood at Tk228 crore during the July-December period of FY24, if the incomes of other subsidiaries are excluded.
The company's standalone profit was Tk15.28 crore during the first half of the last fiscal year, according to its un-audited report.
The net operating cash flow per share (NOCFPS) stood negative at Tk1.14 on consolidated basis, which was positive at Tk0.18 at the same time of the previous fiscal year.
In 2022-23 fiscal year, it made a profit of Tk77 crore, which was almost half compared to that of FY22.
It had paid a 5% dividend, including 2.5% cash and 2.5% stock dividends, to its shareholders last fiscal year.
Its shares were traded at Tk66.20 each at the Dhaka Stock Exchange (DSE) on Monday.
