Business Report :
Titas Gas Transmission and Distribution Company Ltd, a publicly traded state-owned firm, reported a net loss of Tk212 crore in the January to March of the 2023-24 fiscal.
The loss in the same period of the previous fiscal year was Tk117 crore. At the end of the first nine months of FY24, its total loss stood at Tk165 crore.
However, the company reported a notable growth of 20% in revenue, reaching Tk8,727 crore, owing to the increase of gas prices hike last year.
In January 2023, the government hiked gas prices for power, industries, and commercial (hotel and restaurant) sectors up to 179%. Its shares closed at Tk22.90 each on Tuesday (30 April), dropping 2.97% from the previous session at the Dhaka Stock Exchange.
