Dhaka, Nov. 14 -- Titas Gas Transmission & Distribution Company has reported operating losses for the July-September quarter of FY23 for the first time since it was listed with the stock market in 2008, mainly for a sharp cut in the distribution charge.

Bangladesh Energy Regulatory Commission (BERC) in June set the distribution charge at Tk 0.13 per cubic metre gas, down from Tk 0.25, leading to Titas's operating loss of Tk 216 million for the quarter.

About 96 per cent of Titas Gas's revenue comes from distribution charges.

However, its non-operating income rose 18.5 per cent year-on-year to Tk 641 million during the period, salvaging the company from going into the red.

The net profit was reduced to half of what Titas earned in the ...