Summit Power’s profit plunges 88% in FY25

Summit Power Limited reported a sharp fall in earnings for fiscal year 2024-25, with profit dropping 88 percent year-on-year to Tk 40.57 crore, as the company shut down seven of its plants.

The company disclosed consolidated earnings per share of Tk 0.38, down from Tk 3.13 a year earlier, according to a price-sensitive information disclosure.

The decline was attributed mainly to the closure of seven out of 15 plants, with a combined capacity of 234 megawatts out of Summit's total 930.55 MW.

Summit said the shutdowns led to an impairment loss of Tk 152 crore. Four plants operated only partially under "No Electricity, No Payment" terms after their power purchase agreements expired, while three remained idle throughout the year.

Despite the downturn, the board recommended a 10.50 percent cash dividend for the year ended June 30, 2025 — slightly higher than the 10 percent proposed the previous year.

As of September 30, 2025, sponsor-directors held 63.19 percent of Summit Power's shares, institutions 18.41 percent, foreign investors 3.65 percent, and the public 14.75 percent, according to Dhaka Stock Exchange data.