The New Nation - Internet Edition

Business Desk

Titas Gas T & T Company Limited earned a pre-tax profit of taka 394.32 crore during the fiscal 2006-07 and declared dividend for taka 88.26 crore only. During this period, the company sold 11204.10 million cubic meters of gas and earned a revenue of taka 3840.77 crore compared with taka 3408.00 a year before, marking 12.70 percent growth.

All these achievements were disclosed in the 26th annual general Meeting held on the 26th December in a local five star hotel. Mohammad Mohsin, Secretary, Ministry of Energy and Mineral Resources, presided over the meeting.

Company Chairman Jalal Ahmad and Managing Director Mohammad Abdullah were present among others. It was also disclosed that an amount of taka 283.71 crore had been deposited in the State Treasury and spent taka 128.84 crore in local and foreign currency under development programme. And the company minimised the system loss by 1.21 percent to bring down it to 5.26 percent.

It was further said in the meeting that the company snapped illegal connections of 99 industrial bodies and 537 commercial enterprises.

And the company's authorised capital has been raised to taka 2000 crore from taka 350 crore under Direct Listing Procedure.