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Stock Report
Gujarat Gas announces Third Quarter Results
Posted On : 2024-02-13 22:07:50( TIMEZONE : IST )
Gujarat Gas Ltd registered Revenue from Operations of Rs. 4,084 Crore during the quarter ended on 31 st December 2023 as against Rs. 3,991 Crore for quarter ended on 30th September 2023. The Standalone Profit After Tax (PAT) for the current quarter is Rs 220 Crore as compared to Rs 298 Crore for quarter ended on 30th September 2023.
For the quarter ended on 31 st December 2023, the Company's sales volumes increased by 26% to 9.16 mmscmd from 7.29 mmscmd during quarter ended on 31 st December 2022. The industrial sales volumes increased to 5.53 mmscmd for quarter ended 31 st December 2023 from 4.05 mmscmd for quarter ended 31 st December 2022, an increase of 36%.
Company has achieved the highest ever average CNG sales of 2.78 mmscmd for quarter ended on 31 st December 2023 (growth of 14% over same quarter previous year), on the back of investments in CNG station infrastructure coupled with favourable government policies.
During the quarter, the Company added -38,000 new domestic customers, 197 commercial customers and commissioned 69 new industrial customers. Volume of 1,16,000 scmd is added due to commissioning of new industrial customers. Moreover, as on 31st December 2023, the company has a signed volume of 8,23,000 scmd which will be commissioned in coming days.
During the quarter, Company has contracted -0.50 mmscmd of domestic gas under auction from one of the upstream suppliers for 4 years.
Company has launched Full Dealer Owned Dealer Operated (FDODO) scheme to fast track development of CNG stations infrastructure. Company plans to add more than 200 CNG stations in next 2-3 years under the scheme.
Shares of Gujarat Gas Limited was last trading in BSE at Rs. 561.40 as compared to the previous close of Rs. 560.00. The total number of shares traded during the day was 24421 in over 1183 trades.
The stock hit an intraday high of Rs. 566.75 and intraday low of 556.60. The net turnover during the day was Rs. 13700899.00.
