Buoyed by a rise in its topline and bottomline by eight per cent over last year, the Board of Directors of Gujarat Gas Company Limited has recommended a bonus for the first time of one equity share of each share held by shareholders.
A subsidiary of BG Group plc (65.12 per cent), Gujarat Gas Company Limited, currently distributes approximately three mmscmd of natural gas.
According to a release by the company, growth in retail markets, procurement of RLNG and optimisation of market mix enabled a rise in revenue and profits over the same quarter of the previous year. Apparently, Gujarat Gas has witnessed a rise in both its topline and bottomline by eight per cent over last year.
During the second quarter of financial year 2009-10, more than 10,200 households were connected on piped gas, the release stated. Moreover, over 95,000 vehicles ply on CNG in the company's markets.
The company’s profit after tax (PAT) was Rs 47.6 crore compared to Rs 44.1 crore in the corresponding quarter in the previous year.
The consolidated net sales for the quarter were Rs 331.6 crore, compared to Rs 306.1 crore in the corresponding quarter of the previous year.