BSC net profit increases to Tk 72 crore in FY2020-21

Published : 18 Jan 2022 10:22 PM | Updated : 19 Jan 2022 04:56 PM

Bangladesh Shipping Corporation (BSC) has made a net profit of Tk 72 crore 2 lakh in the financial year 2020-21, said BSC Managing Director Commodore Sumon Mahmud Sabbir.

 He said this while exchanging views with journalists at BSC building on Tuesday afternoon.

 The meeting was organized on the occasion of the 44th Annual General Meeting of BSC to be held online on 27th January.

 BSC MD Commodore Sumon Mahmud Sabbir said that the total income of BSc in the financial year 2020-21 is Tk 322.97 crore.  The operating income is 274 crore 27 lakh taka, the income in other sectors is 48 crore 70 lakh taka.  Operating expenditure 160 crore 22 lakh, administrative and financial expenditure 67 crore 5 lakh.

 The total expenditure is 227 crore 27 lakh rupees.  Net profit is 72 crore 02 lakh taka, which is 30 crore 55 lakh taka more than the previous year.

Read More: BSC earns net profit of Tk72cr in last fiscal

In the last financial year 2019-20, the total income was Tk 322.84 crore and the expenditure was Tk 245.36 crore.  After tax adjustment in the same financial year, the net profit was 41 crore 47 lakh taka.  This time it has been recommended to pay 12 percent cash dividend from the net profit to the shareholders.

 He said that considering the current demand of the country like BSC, it is essential to have 40-50 ships of different sizes.  But it was not possible to add that amount to the fleet of the Ship Corporation due to various adverse conditions.  Coal will be imported from abroad in 3 coal based power projects at Rampal, Payra and Matarbari.  Two mother bulk carrier procurement projects of 80,000 tons have been undertaken in Coal Transport.

 Eastern Refinery Limited has undertaken a new 1 lakh 25 thousand tons capacity mother tanker project to transport crude oil BSC through its own vessels.  80,000 tons mother oil tanker projects have been undertaken to transport BPC's imported oil.

  He said that BSC has to turn around from the current situation.  We are now firmly convinced in this regard.  We have started the process of turning around with the active support and guidance of the government.  Now it's time to move on.  Our main objective is to procure the required number of ships on time and to ensure their smooth operation. All government agencies in the country should import goods through BSC.

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