Profits of Doreen Power rise 54pc

Profits of Doreen Power Generations and Systems soared 54 per cent in the first nine months of the 2021-22 financial year thanks to higher earnings among its subsidiaries.

The power producer logged consolidated profits of Tk 134 crore between July 2021 and March 2022 while it was Tk 87 crore during the same period in the previous financial year.

Its profits rose significantly due to a significant increase in revenue and net profit of three subsidiaries -- Dhaka Northern Power Generation, Dhaka Southern Power Generation, and the newly added Chandpur Power Generation.

Chandpur Power Generation began commercial operations from February 11 earlier this year, the company said in a disclosure on the Dhaka Stock Exchange website yesterday.

Doreen's revenue rose 81 per cent year-on-year to Tk 841 crore in the nine month period.

Doreen Power holds a 99.40 per cent, 99.14 per cent and 99.90 per cent stake in Dhaka Northern Power Generation, Dhaka Southern Power Generation and Chandpur Power Generation respectively.

Stocks of Doreen Power rose around 1 per cent to Tk 72.40 at the Dhaka bourse yesterday.