Doreen Power’s profit drops 65% due to costly dollar

Doreen Power Generation Company witnessed 65 per cent year-on-year fall in its profits in the January to March period of 2022-23 financial year.

The power generation company's profit fell to Tk 18 crore in the third quarter of 2023 fiscal year, down from Tk 54 crore posted in the same period previous year.

In the same way, its earnings per share stood at Tk 1.79 in a period between July of 2022 to March of 2023, down from Tk 7.39 in the same period previous year.

The company's EPS has decreased significantly due to a rise in loss in foreign currency transactions incurred by subsidiary companies for a drastic devaluation of the local currency against the greenback, said Doreen Power in its financial report.