Baraka Patenga Power more than doubled its profit in the July-September quarter as lower financial expenses, stronger performance across its business units and subsidiaries, and higher electricity demand boosted earnings.
The company reported consolidated net profit after tax of Tk23.21 crore in the quarter, up 103.38 per cent from Tk11.41 crore in the same period a year earlier, according to its unaudited financial statements.
In a disclosure sent to the Bangladesh Securities and Exchange Commission, Dhaka Stock Exchange and Chittagong Stock Exchange on November 12, the company attributed the increase to improved operational performance across its businesses, lower finance costs and higher demand for electricity.
The disclosure followed the board of directors’ approval of the quarterly financial statements.
