Gujarat State Petronet’s quarterly profits rose by 82.7%

Against the July-September quarter of 2017, in the same period of 2018, the state of Gujarat State Petronet increased by 82.7%.

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The company has made a profit of Rs. 323.34 crore compared to Rs. 176.96 crore In addition, the company’s net income grew by 78.7% to Rs. 598.33 crores as compared to Rs. 334.83 crores. Significantly, the company’s quarterly results have been much better than the estimates of the experts. The experts had estimated profit of Rs 194 crore and net earnings of Rs 428 crore.

In better results, Gujarat State Petronet’s Ebitda increased by 80.8% to Rs 516.27 crores and Ebitda margin increased by 101 basis points to 86.3%. The company’s gas transportation revenues went up 80.4% to Rs 582.84 crore and power earnings increased by 31.9% to Rs 16.52 crore.

On the other hand, the share of Gujarat State Petronet in BSE opened at Rs 184.80 against the previous closing price of Rs 181.35. After 10 o’clock, the strength of the stock has decreased. It is running at around 182.00 with an increase of 0.65 rupees or 0.36% around 11 pm.

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