Bangladesh Submarine Cables PLC (BSCPLC) reported a year-on-year profit growth of 8 percent in the January–March quarter of the fiscal year 2024–25, according to a disclosure on the Dhaka Stock Exchange (DSE) website.

The state-owned entity posted a profit of Tk 435.8 million for the period, with diluted earnings per share (EPS) rising to Tk 2.33, up from Tk 2.16 in the same quarter last year.

Despite the quarterly improvement, the company’s performance over the nine-month period from July 2024 to March 2025 reflected a downturn. EPS during this stretch dropped to Tk 6.83, compared to Tk 8.99 in the corresponding period of FY24. Its net operating cash flow per share (NOCFPS) also fell sharply to Tk 7.83 from Tk 14.06.

BSCPLC attributed the decline in cash flow to lower customer collections and increased operating expenses. The company also noted the issuance of 22.1 million new shares to the government’s Post and Telecommunication Division in September 2024, which affected its per-share metrics.

Shares of BSCPLC inched up by 0.16 percent to Tk 122.3 as of 11:46 am today.

As of March 31, 2025, the government held 76.94 percent of the company’s shares, while institutional and foreign investors held 15.02 percent and 2.07 percent, respectively. The general public accounted for 5.97 percent.

BSCPLC currently operates two undersea cables and is working on a third, the SMW6, which is 77 percent complete and expected to add 13,200 Gbps of bandwidth by year-end.