United Power Generation logged an 8 per cent year-on-year fall in profits in 2021-22 fiscal year due to the devaluation of the local currency against the greenback.
The power generation company's profits fell to around Tk 997 crore in the recently ended financial year.
In a recent disclosure, the company said its profit decreased due to an increase in the fuel oil price in the international market.
The Russia-Ukraine war has caused global economic uncertainty, energy supply shortage and significant price volatility.
As a result, United Power's spending rose significantly for oil purchase due to the rapid devaluation of the local currency, the company said in a disclosure published on the website of Dhaka Stock Exchange (DSE).
On the other hand, the company's net operating cash flow per share has decreased to Tk 1.89 compared to the previous year's Tk 27.17 due to a significant increase in trade receivable for the delay in payment of revenue bills by the Bangladesh Power Development Board.
Depending on the profits, the board of directors of the company declared a 170 per cent cash dividend for its shareholders.
