GSPL standalone Q2 PAT up 21% YoY to Rs 328 crore

Gujarat State Petronet (GSPL) reported 20.9% rise in standalone net profit to Rs 327.69 crore on a 2.4% rise in net sales to Rs 588.51 crore in Q2 FY22 over Q2 FY21.

Revenue from Gas Transportation was Rs 575.58 crore (up 1.5% YoY) while that from Electricity Sales was Rs 12.93 crore (up 70.1% YoY) during the quarter.

Profit before tax in Q2 FY22 stood at Rs 410.60 crore, up by 16.5% from Rs 352.38 crore in Q2 FY21.

The company's Q2 transmission volume was 37.49 mmscmd (million metric standard cubic metres per day), up 12.8% YoY and up 1.9% sequentially.

On a consolidated basis, the company's net profit declined 20.1% to Rs 398.40 crore on a 37.1% rise in net sales to Rs 4,085.12 crore in Q2 FY22 over Q2 FY21.

Total expenditure during the quarter increased by 76.1% YoY to Rs 3,279.95 crore, due to a surge in raw material costs (up 93.4% YoY).

Gujarat State Petronet's primary business objective is to connect various supply sources and users of natural gas in Gujarat through its gas pipeline network. GSPL is the leader in natural gas transmission business in Gujarat and is the second-largest natural gas transmission player in India. GSPL also sells electricity generated through its 52.50 MW windmills.

The scrip fell 2.65% to end at Rs 316.30 on the BSE on Muharat Trading session (November 4).

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