Profit at Bangladesh Submarine Cable Co. increased 34 times in just four years

In just four years, Bangladesh Underwater Cable Company Limited, a provider of internet bandwidth using submarine cables, has seen a staggering 34-fold increase in revenues from just Tk7 crore in FY18. At the moment, Bangladesh Submarine Cable Company runs two landing stations for submarine cables with a 1,900 Gbps capacity.

The company’s earnings in FY22 exceeded Tk250 crore, which is the biggest in its history.

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According to corporate sources, the government’s initiatives to improve digital connectivity across the nation and boost 4G-based Internet usage are what caused the company’s profit growth to soar by such a significant amount.

The revenue of the submarine cable company increased by 214% over these five years, to almost Tk442 crore. In addition, the Dhaka Stock Exchange saw a 114% increase in the share price. On Monday, the price of a firm share was Tk219 per share.

The company’s board of directors has decided to pay its shareholders a 46% cash dividend for FY22, which is also the biggest so far.

The company’s net asset value per share was Tk64.66 and its earnings per share (EPS) were Tk15.16 at the end of the previous fiscal year. The firm has a 75% market share.

The market share of the corporation has been steadily rising since the start of 2017, and it is currently over 75%.

Bangladesh currently uses 1,564Gbps of the company’s capacity, 95% of which comes via the Singapore route.

In addition, the submarine cable will install the third underwater cable SMW-6 to double its bandwidth capacity in an effort to prepare for the rising demand.

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Mridha Shihab Mahmud is a writer, content editor and photojournalist. He works as a staff reporter at News Hour. He is also involved in humanitarian works through a trust called Safety Assistance For Emergencies (SAFE). Mridha also works as film director. His passion is photography. He is the chief respondent person in Mymensingh Film & Photography Society. Besides professional attachment, he loves graphics designing, painting, digital art and social networking.
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