Star PSU Gas Company Announces 16% Dip In Net Profit, Rs 6.65/Share Dividend

Leading PSU gas company owned by Gujarat State Petroleum Corporation, Gujarat Gas Ltd on May 10 declared 16% decline in net profit to Rs 369 crore for the quarter ended March 31 as compared to Rs 444 crore announced in the corresponding quarter last year. The board of directors also announced a dividend of Rs 6.65 per equity share on Wednesday. Last trading price of Gujarat Gas share is Rs 463.00 per share with intraday fall of 0.88% on BSE. Check details below:

Gujarat Gas Q423 Results: The PSU company's revenue from operations for the January-March quarter declared at Rs 4,073.82 crore, declined 14% as compared to Rs 4,773.37 crore in the year-ago period. Gujarat Gas for the year ended March 31 declared its standalone profit after tax (PAT) at Rs 1,525 crore as compared to Rs 1285.64 crore last year, 19% higher.

Gujarat Gas Ltd Declares Dividend: According to the regulatory filing of the company, "Pursuant to Regulation 30 of SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015, we inform you that the Board also recommended dividend Rs 6.65 per equity share of Rs 2/- each to the shareholders for the financial year 2022-23, in the same meeting, which will be paid subject to approval of shareholders in the Annual General Meeting."

Gujarat Gas Ltd Stock Performance & Return: The last trading price of Gujarat Gas is Rs 463.00 per share on BSE. Its 52-week high price is Rs 583.60 per share and 52-week low price is Rs 403.80 per share, respectively. The company has a market capitalisation of Rs 31,872.46 crore. The stock fell 6% in last 6-months, 8% in last 1-year, 12% in last 2-years and gave return of 90% in last 3-years. The stock gave return of 176% in last 5-years.

About Gujarat Gas: Gujarat Gas Limited (GGL) is India's largest City Gas Distribution (CGD) Company in terms of sales volume operating in 44 districts in 6 states of Gujarat, Maharashtra, Rajasthan, Haryana, Punjab & Madhya Pradesh and 1 Union territory of Dadra & Nagar Haveli. The company has successfully commissioned the country's first pilot project of blending green hydrogen with piped natural gas for the domestic customers on collaboration with NTPC. GGL received several accolades in the recent past. Gujarat Gas was adjudged as the 'Star PSU of the Year" at the Economic Times Energy Leadership Awards 2022, according to its official website.