Sea Pearl's profit jumps amid improving tourism industry

Sea Pearl Beach Resort and Spa Limited's posted higher profit growth in the third quarter (January to March) of the current fiscal year owing to the improvement of the hotel and tourism business in the post-Covid period.

From January to March quarter of 2023, the revenue of the company stood at Tk77.27 crore, which was Tk24.55 crore in the same period of the previous year.

Its net profit was Tk37.79 crore, which was Tk4.27 crore one year ago.

Its earnings per share stood at Tk3.13, which was Tk0.35 compared to the previous year.

In the first three quarters (July to March) of 2023, the revenue of the company stood at Tk7,187.49 crore, which was Tk76.66 crore in the same period of the previous year.

Its net profit during the July-March period was Tk80.06 crore, which was Tk12.96 crore from one year ago.

Its earnings per share was Tk6.63, which was Tk1.07 compared to the previous year.

And net asset value per share was Tk17.28 as of 31 March 2023.

The company said EPS has increased due to an increase in net profit resulting from the improvement of the Covid situation, achieving good revenue for utilization of rooms, fully phased operation of Water Park, cruise ship revenue, Non-AC Restaurant opening, and other activities.