Gujarat Gas Company Ltd(GGCL), the country's largest private gas dictributor, posted a 12.62 per cent rise in profit after tax for the quarter ended Spetember 30 to Rs 44.6 crore on the back of higher retail sales. Net sales for the quarter was up by 19.27 per cent to Rs380.6 crore.
The retail volumes grew by 18 per cent, driven mainly by the industrial and CNG segments, while overall volume growth was 7 per cent.The CNG segment grew by 11 per cent over the corresponding quarter of the last year. Shaleen Sharma, managing director, GGCL said, "While we are happy to sustain growth in the immediate term through short term Reclassified Liquified Natural Gas(RLNG), we are working towards entering into term contracts for procurement of RLNG or any other indigenous source of natural gas."
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