Shares of Gujarat Gas advanced 2.33% to Rs 303.15 after consolidated net profit soared 30.5% to Rs 197.30 crore in Q3 December 2019 (Q3 FY20) as against Rs 151.23 crore reported in Q3 December 2018 (Q3 FY19).
Net sales advanced 18.4% year-on-year (YoY) to Rs 2,506.19 crore in Q3 FY20. The result was announced after market hours yesterday, 5 February 2020.Profit before tax jumped 33.1% to Rs 264.15 crore in Q3 FY20 as compared to Rs 198.39 crore posted in Q3 FY19. Current tax expenses, for the quarter, witnessed a 23.7% surge to Rs 65.61 crore YoY.
The company had accounted a net exceptional loss of Rs 12.49 crore in Q3 FY19.
During the quarter ended as on 31 December 2019, Gujarat Gas' total sales volume stood at 857 mmscm (Million Metric Standard Cubic Meter); out of which Industrial sales volume contributed 654 mmscm, CNG sales volume contributed 139 mmscm, domestic sales volume 53 mmscm and commercial sales volume contributed 11 mmscm.
Shares of Gujarat Gas advanced 2.33% to Rs 303.15. The scrip traded in the range of Rs 305 to Rs 297.90 so far.
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Gujarat Gas is engaged in the natural gas business in Gujarat. The company is engaged in city gas distribution, including sale, purchase, supply, distribution, transport, trading in natural gas, compressed natural gas (CNG), liquefied natural gas (LNG), liquefied petroleum gas (LPG) and other gaseous form through pipelines, trucks/trains or such other suitable mode for transportation/distribution of natural gas, CNG, LNG, LPG and other gaseous form.
The Governor of Gujarat holds 6.53% stake as of 31 December 2019.
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