Gujarat Gas rallied 3.64% to Rs 546.90 after the company's standalone net profit increased 3.07% to Rs 306.93 crore in Q2 FY25 as compared with Rs 297.80 crore in Q2 FY24.
However, revenue from operations declined 1.66% YoY to Rs 3,781.75 crore in the quarter ended 30 September 2024.Profit before tax stood at Rs 415.22 crore in Q2 FY25, registering a growth of 3.62% on YoY basis.
For the quarter ended 30 September 2024, the company's sales volumes were 8.75 mmscmd, compared to 9.32 mmscmd in the corresponding quarter of the previous year.
The compressed natural gas (CNG) category continued to witness strong momentum, as the consumers are benefitting from favourable government policies which has supported in terms of volume growth.
The company recorded CNG sales of 2.93 mmscmd for the quarter ended 30 September 2024, marking a growth of 11.83% YoY.
PNG domestic and commercial sales volumes during the period under review aggregated to 0.76 mmscmd (up 8.57% YoY) and 0.15 mmscmd (up 7.14% YoY), respectively.
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During the quarter, the company added more than 38,500 new domestic customers and 9 new CNG stations. Volume of around 88,000 scmd was added due to commissioning of new industrial customers. As of 30 September 2024, the company has signed volume of approximately 5,27,000 scmd to be commissioned soon.
Gujarat Gas is the largest city gas distribution company in India. The company has a network of about 41,700 km of gas pipeline, distributing approximately 8.75 mmscmd of natural gas. The company operates more than 820 CNG stations and has connected more than 21.91 lakh households in six states and one union territory.
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