Gujarat Gas Marks 28% Y-o-Y Rise In Consolidated Net Profit For Q4 FY 2022

| Updated: May 12, 2022 12:31 pm

Gujarat Gas Limited recently announced that its consolidated net profit  for financial year, ending March 2022, marked a slight growth of just 1% to Rs1287.37 crore as compared to from Rs1270.37 crore in the previous year. However, the company registered a 28% year-on-year rise in its consolidated net profit for the fourth quarter of January-March, standing at Rs444.39 crore against Rs348.29 crore.

Total consolidated income for the fourth quarter stood at Rs4,791.04 crore, a 36% increased from Rs3,513.94 crore in same period last year. Meanwhile, the company’s consolidated total income for the full financial year marked an impressive growth of 67%, clocking at Rs16878.22 crore as compared to Rs10128.68 crore.

The state-run gas distributing giant recorded an average gas sales volume of 9.89 million metric standard cubic metre per day for the quarter, particularly led by led by industrial segment with 6.70 million metric standard cubic metre daily. For the full financial year, Gujarat Gas touched total per day average gas sales volume of 10.70 million metric standard cubic metre, also  led by industrial sales of 7.91 million metric standard cubic metre per day. During the year the industrial sales volume was followed by compressed natural gas (CNG), then piped natural gas (PNG) for domestica nd commercial use.

The company also expanded its reach by adding 155 new CNG stations, including two liquid to compressed natural gas (LCNG) stations, which is the highest by any company in India. Now, Gujarat Gas has a total of 711 stations. It also added more than 154,000 new households, commissioned 423 new industrial customers and expanded its network by 2495 kms in the financial year 2021-22.

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