The Bangladesh Shipping Corporation (BSC) has recorded its highest-ever net profit of Tk249.69 crore in the fiscal year 2023-24, marking a significant milestone in its 53-year history. The achievement was unveiled at BSC’s 47th Annual General Meeting held in Chattogram, where the corporation also announced a 25% cash dividend for shareholders.
Highlighting the financial performance, BSC Managing Director Commodore Mahmudul Malek noted that the corporation’s total income rose to Tk667.23 crore in FY 2022-23, with a net profit of Tk246.29 crore after tax adjustments. The profit saw an increase of Tk3.40 crore in FY 2023-24, driven by operational income of Tk487.74 crore and an additional Tk108.44 crore from other revenue streams.
BSC has made significant strides in modernizing its fleet, adding six new ships, five of which are operational. Plans are underway to further expand with two crude oil mother tankers, two mother bulk carriers, and 12 container ships. Of these, six container ships will be constructed in collaboration with South Korea.
As of June 30, 2024, BSC’s total assets stood at an impressive Tk3,811.53 crore. The government retains a 52.10% stake in the corporation, valued at Tk79.46 crore.
This landmark profit reflects BSC’s efforts to enhance its fleet and operations, positioning the corporation as a key player in Bangladesh’s maritime sector.
Source: Cablgram
