X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Gujarat Gas posts 50% increase in net profit - Views on News from Equitymaster
 
 
  • PRINT
  • E-MAIL
  • FEEDBACK
  • A  A  A
  • Apr 19, 2000

    Gujarat Gas posts 50% increase in net profit

    Gujarat Gas (GGCL) has reported excellent results for the first quarter of the current year.

    The company is mainly a distributor of gas in the state of Gujarat. It buys gas from Gujarat State Petroleum Corporation (GSPCL) and Gas Authority of India and sells it to residential, industrial and commercial users (such as hotels, restaurants etc). The company’s average realisations are in the range of Rs 7.50 per cubic metre. British Gas (BG) owns 65% of the Rs 128.30 million equity of the company.

    In the first quarter of the current year, the company has been able to increase the volume of gas it supplies to its customers by 14%. It has however been able to post a 37% increase in sales and a 54% jump in operating profits. This indicates that the company has been able to comfortably, pass on the 15% increase in gas prices charged by its suppliers GAIL and GSPCL.

    (Rs m) FY1999 FY2000 Change
    Sales 514 705 37.3%
    Other Income 22 35 60.0%
    Expenditure 398 526 32.3%
    Operating Profit (EBDIT) 116 179 54.5%
    Operating Profit Margin (%) 23% 25%  
    Interest 7 27 319.4%
    Depreciation 18 29 61.4%
    Profit before Tax 113 158 39.2%
    Other Adjustments      
    Tax 30 32 6.7%
    Profit after Tax/(Loss) 83 126 50.9%
    Net profit margin (%) 16.2% 17.8%  

    The company has already put in place a pipeline between Hazira and Ankleshwar to transmit gas. Besides, BG is setting up its own terminal at Pipavav (Gujarat) which will have the capacity of 5 million cubic metres of gas per day. GGCL will be able to source gas from its parent’s terminal apart from GSPCL and GAIL from 2003 onwards.

    GGCL’s volumes are expected to soar to 1.5 million in the coming year (the company has changed its calender year to December) and the company can be expected to report a turnover in the range of Rs 3.40 bn. We had mentioned this almost six weeks back when the company declared its annual results and the projection continues to hold good.

     

     

    Equitymaster requests your view! Post a comment on "Gujarat Gas posts 50% increase in net profit". Click here!

      
     

    More Views on News

    GAIL: A Good Show (Quarterly Results Update - Detailed)

    Mar 27, 2017

    GAIL (India) Ltd has announced results for the quarter ended December 2016. reported 9.4% year on year (YoY) decline in sales, while bottom-line grew 45.4% YoY.

    ONGC: Higher Realisations on Crude Support Performance (Quarterly Results Update - Detailed)

    Mar 17, 2017

    ONGC has announced results for the quarter ended December 2016. The company has reported 9.2 % year on year (YoY) growth in sales, while bottom-line grew 197% YoY.

    Mahanagar Gas Ltd (IPO)

    Jun 21, 2016

    Should one subscribe to Mahanagar Gas IPO?

    More Views on News

    Most Popular

    This Small Cap Can Drive Chinese Players Out of India (and Make a Fortune in the Process)(The 5 Minute Wrapup)

    Aug 17, 2017

    A small-cap Indian company with high-return potential and blue-chip-like stability is set to supplant the Chinese players in this niche segment.

    The Most Important Innovation in Finance Since Gold Coins(Vivek Kaul's Diary)

    Aug 10, 2017

    Bill connects the dots...between money and growth, real money and real resources, gold and cryptocurrencies...and between gold, cryptocurrencies, and time.

    It's the Best Time to Buy IT Stocks(Daily Profit Hunter)

    Aug 16, 2017

    The IT Sector could be in an uptrend till February 2019. Are you prepared to ride the trend?

    Bitcoin Continues Stellar Rise(Chart Of The Day)

    Aug 10, 2017

    Bitcoin hits an all-time high, is there more upside left?

    5 Steps To Become Financially Independent(Outside View)

    Aug 16, 2017

    Ensure your financial Independence, and pledge to start the journey towards financial freedom today!

    More
    Copyright © Equitymaster Agora Research Private Limited. All rights reserved.
    Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

    LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA or Canada, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.

    SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

    Equitymaster Agora Research Private Limited. 103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
    Telephone: +91-22-61434055. Fax: +91-22-22028550. Email: info@equitymaster.com. Website: www.equitymaster.com. CIN:U74999MH2007PTC175407
     

    Become A Smarter Investor In
    Just 5 Minutes

    Multibagger Stocks Guide 2017
    Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
    We will never sell or rent your email id.
    Please read our Terms

    GUJARAT GAS SHARE PRICE


    May 26, 2015 (Close)

    TRACK GUJARAT GAS

    • Track your investment in GUJARAT GAS with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
    • Add To MyStocks

    MARKET STATS