Autonomous GSPL Q2 PAT up 21% yoy to Rs 328 crore

Gujarat State Petronet (GSPL) reported a 20.9% increase in stand-alone net profit to Rs 327.69 crore on a 2.4% increase in net sales to Rs 588.51 crore in Q2 FY22 compared to Q2 FY21.

Revenues from gas transmission were Rs 575.58 crore (up 1.5% year-on-year) while those from electricity sales were Rs 12.93 crore (up 70.1% year-on-year) annual) during the quarter.

Profit before tax in the second quarter of FY22 was Rs 410.60 crore, up 16.5% from Rs 352.38 crore in the second quarter of FY21.

The company’s transmission volume in the second quarter was 37.49 mmscmd (million standard metric cubic meters per day), up 12.8% year-on-year and 1.9% sequentially.

On a consolidated basis, the company’s net profit decreased 20.1% to Rs 398.40 crore on a 37.1% increase in net sales to Rs 4,085.12 crore in Q2 FY22 compared to Q2 FY21 .

Total expenses in the quarter increased 76.1% yoy to Rs 3,279.95 crore, due to higher raw material costs (up 93.4% yoy).

The main business objective of Gujarat State Petronet is to connect various supply sources and users of natural gas to Gujarat through its pipeline network. GSPL is the leader in natural gas transport activities in Gujarat and the second largest player in natural gas transport in India. GSPL also sells electricity produced by its 52.50 MW wind turbines.

The script fell 2.65% to end at Rs 316.30 on BSE during the Muharat Trading session (November 4th).

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(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

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