Bangladesh’s United net profit up 87% for Jan-Mar

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Bangladeshi carrier United Airways has recorded net profit growth of 87% to taka (Tk) 123 million ($1.50 million) in the fiscal third quarter from Tk65.7 million a year ago.

For the quarter ended 31 March 2012, revenues surged by 169% year on year to Tk1.12 billion from Tk417 million. Its operating expenses grew from Tk240 million posted in the corresponding quarter a year ago to Tk770 million.

The airline posted operating profit of Tk93.9 million, up by 16% compared with a year ago.

The carrier's cash and cash equivalents at the end of the quarter stood at Tk180 million, up from Tk68.4 million posted for the quarter ended 31 March 2011.