Dhaka Electric Supply Company (DESCO) secured a profit of Tk 583 million in the first quarter through September this year, marking a strong turnaround from a loss of Tk 322 million in the same quarter last year. Higher distribution revenue and foreign exchange gains due to favorable exchange rates are two key reasons behind the significant improvement in the business of DESCO, according to the company’s earnings note. DESCO, which distributes electricity to the capital’s western and north-eastern areas, gained Tk 282 million in foreign exchange transactions in the quarter to September this year, whereas it endured a loss of Tk 713 million in this segment during the same period last year. Revenue, particularly from supply of electricity, rose 6.6 per cent year-on-year to Tk 22.74 billion in JulySeptember, according to unaudited financial statements published recently.
the company’s distribution margin increased in February this year-from Tk 7.02 to Tk 12.82-for every Tk 100 worth of power distributed.