Gujarat Gas Q2: Net profit drops to Rs 296 crore, 27% YoY
Additionally, Gujarat Gas's operating revenue decreased in the quarter that ended on September 30, coming in at Rs 3,991.15 crore as opposed to Rs 4,107.83 crore in Q2FY23.
On November 2, Gujarat Gas Limited announced a consolidated net profit for the second quarter of the 2023–24 financial year of Rs 296.25 crore, a 26.7 percent decrease from the same time the previous year.
During the same time previous year, the City Gas Distribution Company's net profit was Rs 404.41 crore. Nonetheless, given that the company's earnings for the prior quarter was Rs 215.95 crore, net profit climbed by 37% sequentially.
In the quarter that ended on September 30, its operating revenue decreased as well, coming in at Rs 3,991.15 crore as opposed to Rs 4,107.83 crore in Q2FY23.
In the second quarter, earnings before interest, tax, depreciation, and amortisation (EBITDA) were Rs 524.87 crore, which was 20.7 percent less than the same period previous year. The company's EBITDA for the same time previous year was Rs 661.77 crore.
Gujarat Gas's shares closed at Rs 408.40 a share on the BSE on November 2, 0.85% more than the previous day's finish.
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