Desco reports Tk 505 crore loss for FY24

Dhaka Electric Supply Company Ltd (Desco), a state-run electricity distributor, reported a loss of Tk 505.7 crore for the fiscal year ending June 30, 2024. This marks the second consecutive year of losses for the company. Losses per share decreased slightly from Tk 13.61 to Tk 12.7. Desco cited increased distribution revenue and reduced foreign exchange losses for the marginal improvement. The board recommended no dividend due to negative retained earnings. Desco’s shares fell 5.06% on the Dhaka Stock Exchange following the announcement.READ FULL