EarningsPOWERGRID
POWERGRID Earnings Update
Announcement summary
- What happened
- POWERGRID published a corporate disclosure on 15 December 2013. Read the full announcement for details.
- Company
- Power Grid Company Of Bangladesh Ltd.
- Announcement published
Original announcement
(Continuation of news of POWERGRID): includes five completed projects amounting Tk. 847,632,179. The projects have been completed and are already in operation and generating revenue but have not been transferred to Property, Plant and Equipment; as a result the company has understated depreciation expenses by Tk. 14,833,563 in relation to the projects. For which EPS for the year 2012-13 has been overstated. 2) As disclosed in Note # 6 to the financial statements, the Company has reported an amount of Tk. 1,658,585,163 as inventories. Movement of inventories is not properly recorded in the accounts maintained at the cost centers we visited. (cont. 3)
Source & verification
- Source
- Published company disclosure
- Published through
- Dhaka Stock Exchange
- Announcement ID
- 616acf6b5a6b000040066f1d
- Original publication
- Last verified by BullBD
- Translation
- BullBD
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