United Power Generation & Distribution Company (UPGDCL) saw its profit grow in the second quarter of the fiscal year 2024-25, driven by higher electricity tariffs and steady production.

The power producer's profit grew 5 percent year-on-year to Tk 292.59 crore in the October-December quarter of FY25.

The company's revenue rose 12 percent to Tk 953.53 crore in the same period.

Its consolidated earnings per share (EPS) stood at Tk 4.98 for October-December 2024, up from Tk 4.71 in the same period a year ago, according to a recent disclosure on the Dhaka Stock Exchange website.

The company attributed the increase to higher bulk electricity tariffs, stable production levels, and consistent foreign exchange rates.

For the first half of the fiscal year, its consolidated EPS surged to Tk 12.11 from Tk 7.84 a year earlier.

Meanwhile, its consolidated net operating cash flow per share (NOCFPS) jumped to Tk 7.55 from Tk 2.74.

The company said substantial collections of previous receivables from customers drove the NOCFPS growth.

UPGDCL, formerly known as Malancha Holdings, is the country's first commercially independent power producer under the 2008 policy for private sector participation, according to its website.

Incorporated in 2007 as a private company and converted to a public company in 2010, UPGDCL was established to ensure uninterrupted power for industries in Bangladesh's export processing zones (EPZs).

It initially operated a 41 MW unit in DEPZ and a 44 MW unit in the Chittagong Export Processing Zone (CEPZ).

With World Bank funding, its capacity has expanded to 160 MW—86 MW in the Dhaka Export Processing Zone and 72 MW in CEPZ.