Company · Analysis · 29 Oct 2026
IT Consultants (Q-Cash): fee income is 80% of revenue, but FY2026 EPS fell 14% with BDT 1.6bn of capital work-in-progress on a tower and data-centre project
Q-Cash transaction fees grew from BDT 448m to BDT 1,247m in five years and lifted the net margin to 29.7%; in FY2026 revenue stalled, gross margin fell and an October 2026 network outage drew a Bangladesh Bank summons. Net debt reached BDT 980m by March 2026.
IT Consultants PLC (ITC) runs Q-Cash, a shared switching network that connects banks' ATMs, point-of-sale (POS) terminals, cards and online channels. It holds a Bangladesh Bank Payment System Operator (PSO) licence since 9-Sep-2014, is connected to the National Payment Switch Bangladesh (NPSB), VISA, Mastercard and…