Gujarat Gas jumped 5% to Rs 567.20 after the city gas distributor reported 42.3% rise in standalone net profit to Rs 349.93 crore on a 28.6% increase in net sales to Rs 3,428.92 crore in Q4 FY21 over Q4 FY20.
Profit before tax in Q4 FY21 stood at Rs 468.21 crore, up by 44.9% from Rs 323.05 crore in Q4 FY20.
The company s average gas sales volume for the quarter was at 12.13 million metric standard cubic meter per day (mmscmd), up by 22% compared to corresponding quarter previous year. In industrial and CNG category, the gas sales volume is up by 24% and 16% respectively, compared to corresponding quarter previous year.
The company recorded 6.9% growth in standalone net profit to Rs 1,275.50 crore on 4.3% decline in net sales to Rs 9,854.25 crore in FY21 over FY20.
Gujarat Gas share climbs 7% post strong earnings
For FY21, revenue from operations declined 4.6 per cent to Rs 10,042 crore from Rs 10,526.49 crore in the previous year. Net profit stood at Rs 1,277.72 crore against Rs 1198.82 crore in the previous year
BusinessToday.In | June 2, 2021 | Updated 16:02 IST
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Gujarat Gas share rose nearly 7 per cent to hit an intraday high of Rs 578.00 on BSE as brokerages maintained their bullish stance on the stock post announcement of March quarter earnings.
The share has delivered 126 per cent returns in the last 12 months and risen 50.5 per cent since the beginning of this year.
The stock ended 4.88 per cent higher at Rs 566.55 against the previous close of Rs 540.20 on BSE. Market cap of the firm rose to Rs 39,000.74 crore.
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