BSCCL’s profit jumps 31pc in 2021-22

Bangladesh Submarine Cable Company Limited (BSCCL) posted more than 31 per cent higher profit in the year that ended on June 30.  

This means the country's lone submarine cable operator made a profit of Tk 229.38 crore in the last financial year. It was Tk 174.96 crore a year earlier.

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Thus, BSCCL reported earnings per share of Tk 13.91 (diluted) in 2021-22 against Tk 10.61 (diluted) in 2020-21.

The company said the EPS increased thanks to a rise in revenue and other incomes for the ordinary course of business activities. There were no significant extraordinary transactions in 2021-22, said the company in a filing on the Dhaka Stock Exchange (DSE) yesterday.

Its net asset value per share stood at Tk 64.66 in the last financial year, which was Tk 52.49 in 2020-21, while net operating cash flow per share rose to Tk 16.76, an improvement from Tk 14.18 a year earlier.

BSCCL emphasised revenue collection and took some stern steps for the realisation that led to a significant increment of cash received from clients as disclosed in the statement of cash flows. Consequently, the net operating cash flows per share went up compared to last year, said the filing. 

The board of directors announced a 46 per cent cash dividend for 2021-22.

BSCCL also informed that it received the Submarine Cable Systems and Services Licence from the Bangladesh Telecommunication Regulatory Commission on April 19.

But as the date of commencement of revenue sharing is not clear yet, the board approved provisioning for revenue sharing at the rate of 3 per cent earned from the services provided under that licence for the period from April 19 this year to June 30 this year.

Shares of BSCCL closed 0.05 per cent down at Tk 218.90 on the DSE yesterday.