Dhaka, Oct 15 (V7N): State-run Dhaka Electric Supply Company Ltd (Desco) reported a loss of Tk 505.7 crore for the fiscal year ending June 30, 2024, marking its second consecutive year of losses.

Desco’s losses per share stood at Tk 12.7, showing a slight improvement from Tk 13.61 in the previous year, as per a disclosure on the Dhaka Stock Exchange (DSE) website. The company attributed this minor improvement to a modest rise in distribution revenue and a reduction in losses from foreign exchange fluctuations.

Despite this, the board recommended no dividend for the year, citing negative retained earnings.

Desco, which supplies electricity to the western and northeastern areas of Dhaka, had previously posted a loss of Tk 541 crore in FY23, marking the first loss since FY02.

Shares of Desco dropped by 5.06 percent to Tk 22.5 as of 12:40 pm today on the DSE.

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