• Friday, February 27, 2015

Titas profits rise 5.3pc

Gazi Towhid Ahmed

Titas Gas Transmission and Distribution Company marked a 5.3 percent year-on-year rise in profits to Tk 206 crore in the October-December period last year thanks to low interest expenses.
The company's revenue saw a decline of 0.6 percent even though there was news of multiple exploratory wells coming into production in the last six months, BRAC-EPL said.
The 300mmcfd gas that is expected to come at the end of 2014 from Chevron's Bibiyana field will be a major catalyst for the stock, the leading stockbroker said.
“Higher than expected gas price hike would be an upside risk for the stock.”

The company's shares were traded at Tk 80.5 yesterday with some 9.77 lakh shares worth Tk 7.89 crore exchanging on the trading floor.
The earnings per share stood at Tk 2.09 during the quarter in contrast to Tk 1.98 a year ago. The price earnings ratio of the company stood at 9.48 until yesterday.
The company's net profit after tax rose 1.69 percent year-on-year to Tk 420 crore in the six months to December.

Published: 12:00 am Wednesday, February 05, 2014

Last modified: 1:51 pm Wednesday, February 05, 2014

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