Highlights
The Investment Corporation of Bangladesh (ICB), a divulge-owned entity primarily accountable for stock investments, reported that its loss lowered by 68% within the July-September quarter of the original fiscal 365 days.
The company’s consolidated loss for the duration stood at Tk75.28 crore, a gigantic enchancment from Tk236.52 crore at some stage within the same duration final 365 days, per its designate-sensitive advise filed with the Dhaka Stock Alternate (DSE).
On the stop of the September quarter, its consolidated loss per part turned into Tk0.87, which turned into Tk2.73 within the same quarter outdated 365 days.
The firm acknowledged in its advise that loss lowered ensuing from expand in capital attach from sale of securities and expand in dividend income.
Following the lower of loss, its part designate rose 2.63% to Tk70.20 the day earlier than at present at the Dhaka Stock Alternate (DSE).
At some level of the first quarter of FY25, it reported the consolidated salvage asset price per part turned into Tk51.08, and the consolidated salvage running money dash with the trail per a part of Tk1.80 negative.
Within the period in-between, within the final fiscal 365 days, ICB managed to turn a profit in spite of incurring well-known losses at some stage within the first nine months.
At some level of this era, the corporate faced a lack of Tk267 crore, largely ensuing from lower capital gains. Nonetheless, it managed to improve and reported a profit of Tk32.28 crore on your total FY24.
No matter this restoration, ICB’s consolidated profit for FY24 turned into 58% lower when compared to the outdated fiscal 365 days, reflecting ongoing challenges.
The turnaround turned into primarily ensuing from capital gains and dividend income, largely from multinational corporations, and lower provisioning against loans, per ICB officers.
As the profit for FY24 turned into virtually half of what it carried out within the outdated fiscal 365 days, it quick a lower dividend of 2% money dividends for its shareholders.
To approve the dividend and audited describe for FY24, the firm will habits the annual long-established meeting on 21 December. The file date is determined on 5 December for dividend and annual long-established meeting.
