 "Gujarat Gas gains as Q2 profit more than doubles")
Gujarat Gas has rallied 6% to Rs 560 on BSE in early morning trade after the company's net profit more than doubled to Rs 72 crore for the quarter ended September 30, 2016 (Q2FY17), due to lower raw material cost. The company had posted a profit of Rs 28 crore in the same quarter last fiscal.
Total income from operations during the quarter under review declined 21% at Rs 1,274 crore, while total expenditure down 26% to Rs 1,125 crore over the previous year quarter.
EBITDA (earnings before interest, taxes, depreciation and amortization) margin improved to 16.7% in Q2FY17 from 9.14% in Q2FY16.
At 09:32 am, the stock was up 4% at Rs 550 on BSE as compared to 0.17% decline in the S&P BSE Sensex. A combined 123,690 shares changed hands on the counter on BSE and NSE.
Total income from operations during the quarter under review declined 21% at Rs 1,274 crore, while total expenditure down 26% to Rs 1,125 crore over the previous year quarter.
EBITDA (earnings before interest, taxes, depreciation and amortization) margin improved to 16.7% in Q2FY17 from 9.14% in Q2FY16.
At 09:32 am, the stock was up 4% at Rs 550 on BSE as compared to 0.17% decline in the S&P BSE Sensex. A combined 123,690 shares changed hands on the counter on BSE and NSE.
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