Gujarat Gas inks MoU with BPCL for collaborating on various fronts

Gujarat Gas (GGL) said that it has entered into a memorandum of understanding (MoU) with Bharat Petroleum Corporation (BPCL) for offering liquid fuels, automotive lubricants and expanding CNG infrastructure.

Offering further details on the same, the city gas distributor said that this collaboration entails offering liquid fuels, including petrol and diesel, alongside BPCL's allied petroleum products such as automotive lubricants, greases and specialties, at select GGL outlets.

It further added that BPCL will supply automotive lubricants, greases and specialties for sale at both GGL's COCO (company-owned company-operated) and franchise outlets.

The two companies plan to set up a CNG facility at BPCL COCO outlets and a CNG Mother Facility at BPCL outlets.

Gujarat Gas is the largest city gas distribution company in India. The company has a network of -38,000 km of gas pipeline, distributing approx. 9.2 mmscmd of natural gas. The company operates more than 815 CNG stations and has connected more than 20.5 lakh households in six states and one union territory.

The company registered revenue from operations of Rs 4,084 crore during the quarter ended on 31 December 2023 as against Rs 3,991 crore for quarter ended on 30 September 2023. The standalone profit after tax (PAT) for the current quarter is Rs 220 crore as compared to Rs 298 crore for quarter ended on 30 September 2023.

The scrip rose 0.63% to end at Rs 570.40 on the BSE yesterday.

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