Gujarat Gas slips after Q1 PAT falls 20% YoY

4 Aug 2022 , 12:57 PM

Profit before tax in Q1 FY23 stood at Rs 508.85 crore, down by 20.2% from Rs 637.73 crore posted in Q1 FY22. Total expenses jumped 95.7% year on year to Rs 4,813.35 crore in the quarter ended 30 June 2022. During the quarter, the company registered a total gas sales volume of 9.75 million metric standard cubic metre per day (mmscmd). Industrial sales volume was 6.63 mmscmd and CNG sales volume was 2.44 mmscmd in Q1 FY23. PNG domestic and commercial sales volumes during the period under review aggregated to 0.55 mmscmd and 0.13 mmscmd, respectively. During the quarter, the company added close to 35,000 new domestic customers, 10 CNG stations, 131 commercial customers and commissioned 63 new industrial customers (with a cumulative volume close to 2,25,000 scmd). Gujarat Gas (GGL) is Indias 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. Powered by Capital Market – Live News