Titas Gas earns Tk 3.39b as net profit in FY 2017-18

The 37th annual general meeting (AGM) of Titas Gas Transmission & Distribution Company was held at the Officers' Club in Dhaka on Thursday.

Abu Hena Md Rahmatul Muneem, Secretary of Energy & Mineral Resources Division and chairman of Titas Board, presided over the AGM attended by directors and a good number of shareholders, says a press release.

The shareholders of the state-run company approved 25 per cent cash dividend for the year 2017-18 and discussed other relevant issues at the meeting.

In financial year (FY) 2017, the company disbursed 22 per cent cash dividend.

Titas Gas has earned Tk 141.89 billion by selling 16,961.75 million cubic metres of gas in the FY 2017-18, which is 13.06 per cent higher than the previous fiscal year, according to the press release.

The state-run company has also reported a profit before tax of Tk 4.53 billion and a profit after tax of Tk 3.39 billion for FY 2017-18.

The company has deposited more than Tk 5.58 billion to the government exchequer in the FY 2017-18.

The company has also reported earnings per share (EPS) of Tk 3.43, net asset value (NAV) per share of Tk 67.28 and net operating cash flow per share (NOCFPS) of Tk 0.50 in the negative for the year ending on June 30, 2018 as against Tk 5.12, Tk 65.64 and Tk 4.07 respectively for the same period of the previous year.

Each share of the company, which was listed on the Dhaka bourse in 2008, closed at Tk 36.10 on Thursday at the Dhaka Stock Exchange (DSE).

In the last one year, the company's share price hovered between Tk 35.80 and Tk 45.50.

The company's paid-up capital is Tk 9.89 billion and authorised capital is Tk 20 billion, while the total number of securities is 989.22 million.

The government owns 75 per cent stake in the company, while institutional investors own 13.78 per cent, foreign investors 1.95 per cent and the general public 9.27 per cent as on November 30, 2018, the DSE data show.

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