Gujarat State Petronet Q2 profit drops 7.4% amid margin pressure

Gujarat State Petronet Ltd

(GSPL) reported a 7.4% year-on-year decline in its net profit to ₹260.7 crore for the September quarter, compared to ₹281.6 crore in the same period last year, as higher costs weighed on margins.

Revenue rose marginally by 1.1% to ₹4,206.3 crore from ₹4,159 crore a year earlier. However, operating profit (EBITDA) fell 12.2% to ₹620 crore from ₹706 crore, leading to a contraction in operating margin to 15.5% from 17.7% last year.

The state-run gas transmission company continues to face pressure from subdued industrial demand and fluctuating transmission tariffs, even as overall gas volumes remain steady.