Guj State Petronet Dec qtr net zooms 4-fold

Gujarat State Petronet Ltd (GSPL) has posted a four-fold rise in net profit, at Rs 115.36 crore, for the quarter ended December 31, 2009, the company said in a filing with the Bombay Stock Exchange.

The profit for the corresponding quarter in the previous year was Rs 27.64 crore.

The firm's total income rose more than two-fold, from Rs 123.28 crore for the year-ago quarter to Rs 271.79 crore for the quarter under review.

GSPL is the first company in India to transport natural gas on open access basis and is a pure natural gas transmission company.

Shares of the company closed at Rs 94.05, down 1.93 per cent, on the Bombay Stock Exchange on Monday, January 25.