Gujarat Gas rises up

Gujarat Gas, which had closed on Friday at Rs.379.75, surged today to hit a new high at Rs.433.45 on the back of an 8.5-times rise in volumes.

The market is super thrilled with its performance for Q3FY21 wherein on a 13% (YoY) surge in consolidated revenue at Rs.2829 crore, it posted a net profit of Rs.392 crore, almost doubling up from previous Q3 net profit of Rs.197 crore.

The company's average gas sales volume for the quarter was at 11.44 mmscmd, up by 23% compared to corresponding quarter previous year. During the current nine months period ended on 3Is December 2020, the Company commercialised 83 new CNG stations.

During the current quarter, in industrial and CNG category, the gas sales volume is up by 29% and 2% respectively compared to corresponding quarter previous year, and 16% and 20% respectively compared to previous quarter.

The company currently continues to flow total gas volume above 11.50 mmscrnd as against FY20 average sales of 9.44 mmscrnd. Sales Volumes (in mmscm) Industrial CNG PNG - Domestic PNG - Commercial Total in mmscm.

The company currently has a comfortable liquidity position and prepaid term loans of 't 988 crore during the nine months period ended on 3Ist December 2020, while continuing to service its debt obligations.