Gujarat Gas Company Ltd's Q2FY19 standalone net profit declines 32.8% yoy to Rs41.07cr : Misses Estimates

The company’s standalone revenue stood at Rs1,964.34cr, up 41.18% yoy.

Nov 03, 2018 08:11 IST India Infoline Research Team

Gujarat Gas Company Ltd Q2FY19

Standalone Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 1,964.34 41.2
EBITDA 160.73 [20.7]
EBITDA Margin (%) 8.2 [639]
Net Profit  41.07 [32.8]
***EBITDA margin change is bps

Gujarat Gas Ltd reported Q2FY19 results which missed the estimates on PAT front. Net Revenue grew by 41.2% yoy to Rs1,964.34cr against Rs1,391.41cr in Q2FY18. EBITDA for the quarter declined by 20.7% yoy to Rs160.73cr against Rs202.66cr in Q2FY18. EBITDA margin declined by 639bps yoy to 8.2%. Net profit for the quarter declined by 32.8% yoy to Rs41.07cr against Rs61.08cr in corresponding quarter last year, missing the estimate of Rs75cr.

• Finance cost declined by 1% yoy to Rs49.41cr.
• Cost of materials consumed for the quarter and half year ended on September 30, 2018 includes Rs38.59cr towards revision in transportation of natural gas tariff applicable to gas transporters from April 01, 2018 as per PNGRB tariff order dated September 27, 2018.

Technical View:

Gujarat Gas Ltd ended at Rs. 637.70, up by 9.75 points or 1.55% from its previous closing of Rs. 627.95 on the BSE.
The scrip opened at Rs. 633.05 and touched a high and low of Rs. 640 and Rs. 629.05 respectively. A total of 54,429 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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