Bangladesh Shipping Corporation (BSC) has reported a 22.8% year-on-year increase in profit for the fiscal year 2024–25, reaching Tk 3.07 billion, driven by one-off gains from the sale of two fire-damaged vessels and stronger freight rates.

According to a disclosure on Wednesday, the state-run firm earned Tk 0.46 billion from selling Banglar Jyoti and Banglar Shourabh, both of which were destroyed in separate fire incidents last year. The ships, purchased from Denmark in 1987 for Tk 0.6 billion, generated a total revenue of Tk 15.36 billion over 37 years of operation.

Earnings per share increased to Tk 20.1 in FY25 from Tk 16.37 the previous year. To offset the loss of the two vessels, BSC rented ships to maintain service continuity, a move the company said helped sustain performance amid unexpected challenges.

The stronger freight market also contributed to higher revenue, lifting net profit by Tk 0.57 billion compared with FY24.

Despite the robust results, BSC’s share price fell 2.7% to Tk 108.1 on the Dhaka Stock Exchange on Wednesday. The company announced a 25% cash dividend for FY25, unchanged from the previous year.

BSC’s cash generation, however, weakened to Tk 11.96 per share from Tk 31.08 in FY24 due to interest payments on government loans.

In the first quarter of FY26, the corporation’s profit dropped 13.18% year-on-year to Tk 0.78 billion, mainly because of higher tax expenses.