State-owned gas distributor Titas Gas Transmission and Distribution Company has returned to profitability in the first quarter of the current fiscal year (July-September), breaking a streak of four consecutive loss-making years.
System loss narrows
According to company sources, system loss fell by 4.05 percentage points year-on-year to 5.91% in the July-September period, down from 9.96% in the same quarter of the previous year. The company attributed the turnaround primarily to this reduction in system loss.Accumulated losses over four years
Prior to this quarter, Titas Gas had accumulated losses of Tk2,276 crore over the previous four fiscal years. The latest quarterly profit marks a modest improvement in the company's financial position.Analysts suggest that gas price adjustments and efforts to reduce distribution losses contributed to the positive outcome. However, they note that sustaining profitability will require further reductions in system loss and stronger recovery of outstanding dues.
