 "Gujarat State Petronet dips on disappointing Q1 results")
Gujarat State Petronet has dipped 6% to Rs 81 on National Stock Exchange (NSE) after reporting 32% year-on-year (yoy) decline in standalone net profit at Rs 85 crore, due to lower operational income. The company had recorded a profit of Rs 126 crore in the same quarter last year.
Net sales of the company declined 22% to Rs 230 crore on yoy basis.
According to company statement, during the quarter, revenues from gas transportation segment were down by 23% to Rs 218 crore against Rs 284 crore in the same period last year. Earnings from sale of electricity increased marginally 7% to Rs 14 crore against Rs 13 crore in the corresponding quarter last year.
The stock opened at Rs 82.55 and touched a low of Rs 80 on NSE. A combined 232,100 shares changed hands on the counter so far on NSE and BSE.
Net sales of the company declined 22% to Rs 230 crore on yoy basis.
According to company statement, during the quarter, revenues from gas transportation segment were down by 23% to Rs 218 crore against Rs 284 crore in the same period last year. Earnings from sale of electricity increased marginally 7% to Rs 14 crore against Rs 13 crore in the corresponding quarter last year.
The stock opened at Rs 82.55 and touched a low of Rs 80 on NSE. A combined 232,100 shares changed hands on the counter so far on NSE and BSE.