Jamuna Oil Firm reported a 29% 365 days-on-365 days surge in revenue, reaching a file Tk441.67 crore in the fiscal 2023-24, pushed by huge earnings from its mounted deposit receipts (FDRs) amid rising hobby rates.
In accordance with its financial statements, the train-owned gasoline distributor has urged a file-breaking 150% cash dividend for the 365 days, offering shareholders Tk15 per half – the very supreme in its history.
In FY23, the firm paid a 130% cash dividend, which became as soon as its very best in the mean time.
No matter the impressive financial efficiency, Jamuna Oil’s shares fell by 0.73% the day earlier than this day on the Dhaka Stock Exchange (DSE), closing at Tk190.10 each.
The firm reported earnings per half (EPS) of Tk40, up from Tk30.87 in FY23. Its rep asset value (NAV) additionally elevated to Tk2,524.46 crore from Tk2,269.07 crore. However, its rep working cash float per half declined enormously to Tk22.88 from Tk109.01.
Firm Secretary Md Masudul Islam attributed the a lot of revenue enhance to elevated non-working earnings due to elevated hobby rates.
“The firm has huge instant-term investments in FDRs all over a lot of banks. The most modern hike in hobby rates has boosted the firm’s profitability,” he outlined.
Gasoline sales margins additionally conducted a position in improving profitability. In March, the authorities raised the gasoline sales margin for the three train-owned oil marketing corporations – Jamuna Oil, Meghna Petroleum, and Padma Oil.
The diesel and kerosene sales margin elevated to Tk0.80 per litre from Tk0.50, while the margin for octane and petrol rose to Tk0.90 from Tk0.60 per litre. This adjustment became as soon as made following a proposal from the Bangladesh Petroleum Corporation, which had highlighted declining incomes for train-bustle entities.
As of March 2024, Jamuna Oil’s instant-term investments, primarily in FDRs all over a few banks, amounted to Tk1,792 crore. This marks an make bigger from Tk1,590 crore on the high of June 2023, per its financial represent.
Passion rates on FDRs salvage risen enormously, climbing to over 11% in September 2024 from around 8% a 365 days earlier. Companies with huge FDR investments, equivalent to Jamuna Oil, salvage witnessed worthy revenue enhance as a result.
As an instance, Meghna Petroleum reported a file Tk542.29 crore revenue for FY24, reflecting a 22% make bigger compared to the earlier fiscal 365 days. Similarly, Padma Oil observed a 17% upward push in revenue, reaching Tk409 crore, largely pushed by non-working earnings from mounted deposits.
Jamuna Oil persevered its revenue enhance trajectory into the first quarter of primarily the latest fiscal 365 days. From July to September, rep revenue rose by Forty eight% 365 days-on-365 days, reaching Tk124.09 crore, compared to Tk83.84 crore throughout the identical length the earlier 365 days.
