Gujarat Gas surges 7%, nears 52-week high on strong Q4 results

The company's gas sales volume till date in the FY22 stands close to 10 mmscmd as against average gas sales of 9.39 mmscmd in FY21

Shares of Gujarat Gas Company surged 7 per cent to Rs 576.60 on the BSE in intra-day trade on Wednesday after the company reported a strong set of numbers for the quarter ended March (Q4FY21). The stock of the integrated oil & gas firm was trading close to its 52-week high level of Rs 580, touched on April 9, 2021.

In Q4FY21, the company’s revenue increased 28.6 per cent year on year to Rs 3,429 crore as sales volume jumped 22 per cent YoY to 12.1 mmscmd. Profit after tax (PAT) increased 42.3 per cent YoY to Rs 350