Titas Gas Transmission and Distribution Company Limited’s earnings per share (EPS) has fallen by 33% in the third quarter (January-March) of FY20 compared to the same period of previous year. Senior officials at the company told Dhaka tribune that the significant fall of earnings had been caused due to the withdrawal of minimum charge at consumer level. According to an official disclosure, posted by the companies concerned on Dhaka Stock Exchange (DSE) website on Monday, Titas Gas’s EPS was Tk0.49 for January-March’20 as against Tk0.73 for January-March’19. As a result, the company’s EPS declined by Tk0.24 or 33%. On the other hand, the gas supply company’s EPS was Tk2.21 for nine months (July’19-March’20) as against Tk2.87 for the same period last year. Its net asset value (NAV) per share was Tk69.76 on March 31, 2020. The Bangladesh Energy Regulatory Commission (BERC) has increased gas prices which came into effect on July 1, 2019. It has also upward revised the distribution charge of Titas Gas to Tk0.25 per cubic metre from Tk0.22. The minimum charge rule against customers’ gas bill was dropped off and a new demand charge was introduced which impacted the revenue of the company adversely. The Titas Gas Transmission and Distribution Company is the largest natural gas distributor in Bangladesh, with an 80% market share. Titas was listed on the Dhaka Stock Exchange in 2008. The power sector company belongs to “A” category. The company’s paid-up capital is Tk989 crore. A share of the company closed at Tk29.70 on Monday.
