Dhaka, Bangladesh (BBN)– Trading of shares of Shahjibazar Power Company Ltd (SPCL) resume today (Monday) after suspension of more than 10-week, officials said.
On August 11, the Bangladesh Securities & Exchange Commission (BSEC) suspended the share trading of the newly listed Shahjibazar Power Company for ‘unusual’ price hike of its share.
The abnormal rise prompted the BSEC to form a two-member panel to investigate the matter.
“Following the BSEC’s investigation and appointment of special auditor M/S. A. Qasem & Co. Chartered Accountants, for examination of the third quarter financial statements (Q3), it is evident that, consolidated net profit after tax (excluding non controlling interest) and EPS of BDT 168.77 million and BDT. 1.48 respectively has been revised to BDT 166.76 million and BDT 1.46 respectively for the third quarter ended on March 31st 2014 (January 14 – March 14),” said a statement posted on the Dhaka Stock Exchange website on Monday.
Consolidated net profit after tax (excluding non controlling interest) and EPS of BDT 90.47 million and BDT 0.79 has been revised to BDT 88.85 million and BDT 0.78 respectively for the same period of the previous year, said the statement.
Similarly, it was also evident that, consolidated net profit after tax (excluding non controlling interest) and EPS of BDT 285.48 million and BDT 2.50 has been revised to BDT 168.67 million and BDT 1.48 respectively for the period of nine months (July 13- March 14) ended on March 31st 2014.
Consolidated net profit after tax (excluding non controlling interest) and EPS of BDT 222.22 million and BDT 1.95 has been revised to BDT 215.12 million and BDT 1.89 respectively for the same period of the previous year. Since the company failed to disseminate correct information, in quarterly financial statements for the period ended on 31st March, 2014, the issue would refer to BSEC for taking appropriate measure as per security related laws, the statement added.
BBN/SSR/AD-20Oct14-11:31 pm (BST)
