Gujarat Gas jumped 8.02% to Rs 547.25 after the company reported 30.5% jump in standalone net profit to Rs 453.28 crore on a 36% rise in net sales to Rs 4,669.39 crore in Q4 FY22 over Q4 FY21.
Profit before tax in Q4 FY22 stood at Rs 586.66 crore, up by 26.2% from Rs 464.89 crore in Q4 FY21.
During the quarter, the company registered a total gas sales volume of 9.89 million metric standard cubic metre per day (mmscmd).
Industrial sales volume was 6.70 mmscmd and CNG sales volume was 2.23 mmscmd in Q4 FY22. PNG domestic and commercial sales volumes during the period under review aggregated to 0.82 mmscmd and 0.14 mmscmd, respectively.
The city gas distribution (CGD) company recorded 2.1% rise in standalone net profit to Rs 1,294.57 crore on a 66.8% increase in net sales to Rs 16,456.22 crore in FY22 over FY21.
In continuation with its expansion plans, Gujarat Gas added 155 new CNG stations including two liquid to compressed natural gas (LCNG) stations, the highest by any CGD player in India, taking its total tally of stations to 711.
It also added more than 154,000 new households, commissioned 423 new industrial customers and expanded its network by 2,495 kms in the financial year 2021-22.
Gujarat Gas (GGL) is India's largest CGD company, with 27 CGD licenses spread across 43 districts in six states and one union territory. GGL is engaged in distribution of natural gas (piped and compressed) and currently supplies PNG to industrial, commercial and domestic customers along with CNG to the transportation sector.
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