Gujarat Gas Company slips on weak Q2 earnings

Gujarat Gas Company declined 1.27% to Rs 470 at 15:00 IST on BSE after the company said its consolidated net profit fell 35.13% to Rs 77.25 crore on 17.01% decline in total income to Rs 699.11 crore in Q2 September 2014 over Q2 September 2013.

The result was announced after market hours yesterday, 13 November 2014.

Meanwhile, the S&P BSE Sensex was up 40.48 points or 0.16% at 27,984.05.

On BSE, so far 8,178 shares were traded in the counter as against average daily volume of 25,536 shares in the past one quarter.

The stock hit a high of Rs 474.75 and a low of Rs 466 so far during the day. The stock had hit a record high of Rs 578.90 on 2 July 2014. The stock had hit a 52-week low of Rs 219.25 on 5 March 2014.

The stock had underperformed the market over the past one month till 13 November 2014, falling 4.05% compared with the Sensex's 5.9% rise. The scrip had, however, outperformed the market in past one quarter, rising 10.92% as against Sensex's 7.8% rise.

The mid-cap firm has an equity capital of Rs 25.65 crore. Face value per share is Rs 2.

Gujarat Gas Company is a part of Gujarat state controlled GSPC Group and is into distribution of natural gas.

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