MUMBAI: Gujarat Gas Ltd net profit for the June quarter surged 92.5% on-year to 2.34 bln rupees. Revenue from operations--net of excise duty--for the quarter rose 48.1% to 26.15 bln rupees. Analysts had estimated net profit of 1.56 bln rupees and net sales of 24.91 bln rupees.
For Apr-Jun, total expenditure, including finance cost, was at 23.33 bln rupees compared with 16.84 bln rupees a year ago. Finance cost was at 509.5 mln rupees as against 485.7 mln rupees a year ago. The company operating margin expanded to 17.84% in Apr-Jun from 14.08% a year ago.
Tax outgo for the June quarter was at 1.26 bln rupees as against 663.7 mln rupees a year ago. For Jan-Mar, the company net profit was at 1.17 bln rupees, on revenue from operations--net of excise duty--of 19.08 bln rupees.
Today, shares of Gujarat Gas closed 0.6% higher at 163.65 rupees on the National Stock Exchange.