Gujarat Gas Q4 consolidated net up 28% to Rs 444 crore, income up 36%

For whole of FY22, the firm's consolidated net profit rise by only 1% to Rs 1287.37 crore

Leading city gas distribution (CGD) company Gujarat Gas Limited (GGL) registered a 28 per cent growth in its consolidated net profit for the fourth quarter ended March 31, 2022 on a year-on-year (YoY) basis.

The company posted a consolidated net profit of Rs 444.39 crore for Q4 of FY22 as against Rs 348.29 crore for Q4 of FY21. Total consolidated income, on the other hand, grew by 36 per cent YoY to stand at Rs 4,791.04 crore in Q4 of FY22 as compared to Rs 3,513.94 crore in Q4 of FY'21.

For the full financial year, Gujarat Gas saw its consolidated net profit rise only marginally by one per cent to Rs 1287.37 crore in FY'22, up from Rs 1270.37 crore in FY'21. The state run company's consolidated total income for the full financial year 2021-22 rose by 67 per cent to Rs 16878.22 crore, up from Rs 10128.68 crore.

Gujarat Gas is into supply of piped natural gas (PNG) and compressed natural gas (CNG) for industrial, commercial and domestic segments.

Continuing on its expansion plans, Gujarat Gas added 155 new CNG stations including two liquid to compressed natural gas (LCNG) stations, the highest by any CGD player in India, taking its total tally of stations to 711. It also added more than 154,000 new households, commissioned 423 new industrial customers and expanded its network by 2495 kms in the financial year 2021-22.

The company registered an average gas sales volume of 9.89 million metric standard cubic metre per day (mmscmd) for the quarter, led by industrial segment with 6.70 mmscmd and followed by CNG (2.23 mmscmd), PNG - domestic (0.82 mmscmd) and PNG - commercial (0.14 mmscmd).

For the full financial year, Gujarat Gas clocked total gas sales volume of 10.70 mmscmd led by industrial sales of 7.91 mmscmd, CNG (1.99 mmscmd), PNG - domestic (0.68 mmscmd) and PNG - commercial (0.12 mmscmd).