1QFY21 results of Gujarat State Petronet Ltd - Angel Broking

Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd.

"Gujarat State Petronet standalone revenue from operations for Q1FY21 stood at ₹464 crore down by 9.4% YoY from ₹512.6 crore in Q1FY20, due to revenue degrowth in the Gas Transportation business which is down by 8.8% stood at 454.17 crores in Q1FY21 as compared to 498.37 crores in Q1FY20. Volume in the GSPL network stood at 33.25 mmscmd in Q1YF21 down by 12.1% as compared to 37.8 mmscmd in Q1FY20. Drop in PAT was lower at 3.3% yoy to ₹199.35 Crore as change in tax rate from 34.1% to 26.9% helped boost PAT. Demand from Power and Refinery/Petchem has strong traction and this is expected to continue till imported LNG prices recover to precovid levels which could be some time away given the glut in the global gas market."

Shares of GUJARAT STATE PETRONET LTD. was last trading in BSE at Rs.207.1 as compared to the previous close of Rs. 198.6. The total number of shares traded during the day was 145470 in over 2056 trades.

The stock hit an intraday high of Rs. 211 and intraday low of 204.2. The net turnover during the day was Rs. 30171165.

Source : Equity Bulls

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