Energy sector faces bleak prospect of escaping spell of declines
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Dhaka, Nov. 21 -- The operations of fuel and power companies depend entirely on imports, and so when taka loses its value against dollar, pricier fuel in the global market gets even pricier, pushing several listed companies into the red.
A majority of those that continued to make profits in the July-September quarter suffered a dip in earnings due to the escalation of production costs or power generation costs.
Among the 23 firms listed in the energy sector, 21 disclosed their quarterly earnings for the three months through September. Of them, nine recorded lower profits compared to the same quarter a year ago while seven companies could ensure a growth in income. One firm's business remained unchanged.
This is the backdrop to a stark ...
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