Summit Alliance Port’s profit doubles

Summit Alliance Port Limited (SAPL) reported a 109 per cent increase in profit in the first quarter of the current fiscal year of 2022-23.  

The inland container depot and container freight service provider raked in Tk 10.90 crore in profit in the July-September period, which was Tk 5.21 crore in the same quarter a year earlier. 

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Thus, the consolidated earnings per share were Tk 0.46 in the July-September quarter of 2022 against Tk 0.22 in the same three-month period a year earlier, according to the unaudited financial statements.

The consolidated net operating cash flow per share rose to Tk 0.66 in July-September from Tk 0.38 during the identical quarter of 2021.

The consolidated net asset value per share was Tk 34.80 on September 30 and Tk 34.34 on June 30.

Established in 2003 in Patenga of Chattogram, SAPL is the largest off-dock in the country's private sector, handling 22.50 per cent of Bangladesh's containerised export volumes and 10.50 per cent of the import volumes, according to the company's website.

Besides, it has established the first-ever inland water terminal facility in the private sector named "Muktarpur Terminal" on the bank of the Dhaleswari in Muktarpur under Munshiganj, providing off-dock services and economical cargo transportation and easing the pressure on the Dhaka-Chattogram highway.

A subsidiary of SAPL has taken over the management of three river terminals in Kolkata and Patna.

Shares of the company rose 4.20 per cent on the Dhaka Stock Exchange yesterday.