Shares of Gujarat Gas Company surged 7 per cent to Rs 576.60 on the BSE in intra-day trade on Wednesday after the company reported a strong set of numbers for the quarter ended March (Q4FY21). The stock of the integrated oil & gas firm was trading close to its 52-week high level of Rs 580, touched on April 9, 2021.
In Q4FY21, the company’s revenue increased 28.6 per cent year on year to Rs 3,429 crore as sales volume jumped 22 per cent YoY to 12.1 mmscmd. Profit after tax (PAT) increased 42.3 per cent YoY to Rs 350 crore. Ebitda (earnings before interest, taxes, depreciation, and amortization) rose 29.9 per cent YoY at Rs 554 crore on account of better operating leverage.
The company’s gas sales volume has shown a robust growth trajectory during the quarter under review. The company’s average gas sales volume for the quarter was at 12.13 mmscmd, up by 22 per cent compared to the corresponding quarter previous year. ln the industrial and CNG category, the gas sales volume grew by 24 per cent and 16 per cent, respectively compared to the corresponding quarter previous year, and 5 per cent and 11 per cent respectively compared to the previous quarter.