Titas Gas Transmission and Distribution Company, a state-owned gas firm, suffered its first-ever fiscal loss in 2022-23, breaking a six-decade profitability streak. The losses, totaling Tk167 crore, were attributed to reduced distribution margins and system losses caused by household retailer gas use. Despite a 44% increase in revenue, driven by gas price hikes for retailers, the firm incurred a net loss of Tk165.14 crore after taxes and other costs, compared to a profit of Tk318 crore the previous year. Titas management has urged the government to raise the gas distribution margin to help the publicly-listed company remain profitable. The Bangladesh Energy Regulatory Commission has raised the margin to Tk0.21 for the current fiscal year, offering hope for a return to profitability.
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