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What is the story about?
Shares of Gujarat Gas Ltd. fell on Tuesday, January 20, in response to its December quarter results, that matched the company's already weak expectations.
Gujarat Gas reported a volume decline of 5.6% during the December quarter, marginally better than the 7% to 8% decline that the street feared.
On a sequential basis, Gujarat Gas' revenue fell by 3.2% to ₹3,658 crore from ₹3,781 crore, while its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) remained unchanged at ₹447 crore from ₹448 crore in the December quarter.
Operating profit margin for the quarter expanded by 30 basis points from the previous quarter to 12.2% from 11.9% during the September period.
Net profit at the end of the December quarter stood at ₹267 crore, a decline of 4.6% compared to the September quarter figure of ₹280 crore.
Gujarat Gas reported a 11% growth in its CNG segment volume on a sequential basis to 3.45 mmscmd, while Industrial volumes fell 19.7% from the previous quarter to 3.93 mmscmd.
Shares of Gujarat Gas have slumped to the lows of the day, currently trading 2.8% lower at ₹395.95.
Gujarat Gas reported a volume decline of 5.6% during the December quarter, marginally better than the 7% to 8% decline that the street feared.
On a sequential basis, Gujarat Gas' revenue fell by 3.2% to ₹3,658 crore from ₹3,781 crore, while its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) remained unchanged at ₹447 crore from ₹448 crore in the December quarter.
Operating profit margin for the quarter expanded by 30 basis points from the previous quarter to 12.2% from 11.9% during the September period.
Net profit at the end of the December quarter stood at ₹267 crore, a decline of 4.6% compared to the September quarter figure of ₹280 crore.
Gujarat Gas reported a 11% growth in its CNG segment volume on a sequential basis to 3.45 mmscmd, while Industrial volumes fell 19.7% from the previous quarter to 3.93 mmscmd.
Shares of Gujarat Gas have slumped to the lows of the day, currently trading 2.8% lower at ₹395.95.
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