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The net profit of Dhaka Stock Exchange fell by 15.61 per cent in last financial year (2017-18) due mainly to a prolonged bearish trend at the market with a fall in turnover. The board of directors of the country’s premier bourse at a meeting on Tuesday approved the financial reports of the bourse for FY18 and recommended 5 per cent dividend for its shareholders, a senior DSE official said. - A home for your website

The financial statements and the proposed dividend would be approved by the DSE shareholders in its annual general meeting to be held on January 26 next year, he said.
According to DSE sources, profit of DSE declined to Tk 104.56 crore in FY18 from Tk 123.91 crore in FY17.
Considering 180,37,76,500 shares of DSE, its earnings per share decreased to Tk 0.58 in FY18 from Tk 0.69 in FY17.
DSE director Rakibur Rahman on Tuesday told New Age that the bourse s profit declined as its operational profit dipped significantly due to a prolonged bearish trend at the market and low participation of investors in the market.
He also said that a large part of the DSE profit came from the interests generated from the bourse s fixed deposits with banks.
The bourse has fixed deposits worth around Tk 1,000 crore.
The total turnover on the bourse was Tk 1,59,085 crore in FY18 with a daily average turnover of Tk 646.6 crore, while the figures were Tk 1,80,522 crore and Tk 755.3 crore respectively in the previous fiscal year.
The key index, DSEX, lost 250.59 points, or 4.43 per cent, to 5,405.46 point in FY18.
In FY18, investors grappled with a number of issues including liquidity crisis, woes in the banking sector and political uncertainty surrounding the national election scheduled for December 30.
Another senior official of DSE said the imposition of increased amount of tax on the bourse s income was another reason for the profit fall.
The bourse enjoyed 60 per cent tax exemption in FY17 that declined to 40 per cent in FY18.
The official also said that the bourse recommended 5 per cent cash dividend for its shareholders, lower than what it gave in the previous year (10 per cent cash), as the bourse would require huge amount of money to implement its business plans including introduction of OTC bulletin board, small cap, exchange-traded fund and derivatives.
The DSE s failure in implementing its business plans last fiscal year was also a cause of not attaining desired margin of profit by the bourse, DSE sources said.
The bourse made Tk 119.82 crore in profit in FY16, Tk 134 crore in FY15 and Tk 135 crore in profit in FY14