Titas Gas' profit soars by 29% due to lower tax rate
Titas Gas head office in Karwan Bazar. Photo: Collected
Lower corporate tax rate and increased investment and finance income helped Titas Gas Transmission and Distribution Company to post 29% higher profit in October-December quarter of 2022.
But, in the first half of FY2023, its net profit declined by 12.44% to Tk124.90 crore over the same period of previous fiscal year due to gas distribution charge refixing by the Bangladesh Energy Regulatory Commission (BERC) from Tk0.25 to Tk0.13 per cubic meter.
In the current budget, the government reduced the corporate tax rate from 22.5% to 20% for listed companies.
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