Gujarat Gas announces Q2 results, consolidated net profit rises to Rs.41.98 crores

Gujarat Gas Company Ltd has announced the following Unaudited results for the quarter ended June 30, 2007.

The Company has posted a profit after tax of Rs 413.323 million for the quarter ended June 30, 2007 as compared to Rs 276.366 million for the quarter ended June 30, 2006. Total Income (net of excise) has increased from Rs 1971.399 million for the quarter ended June 30, 2006 to Rs 2772.686 million for the quarter ended June 30, 2007.

The Consolidated results are as follows: Profit attributable to the Group of Rs 419.805 million for the quarter ended June 30, 2007 as compared to Rs 220.643 million for the quarter ended June 30, 2006. Total Income (net of excise) has increased from Rs 2288.133 million for the quarter ended June 30, 2006 to Rs 2881.984 million for the quarter ended June 30, 2007.

The company has reported an Earnings Per Share (EPS) of Rs.6.4 for the quarter ended June 30, 2007 compared to Rs.21.55 during quarter ended June 30, 2006.

The proportionate dividend on 7.5% Redeemable Cumulative Non Convertible Preference Shares (RCNPS) amounting to Rs 3.150 million for the current quarter and Rs 6.266 million for the six months ended on June 30, 2007 has been considered in determining EPS.

During the current quarter the company split the face value of its equity shares from Rs 10 per share to Rs 2 per share. Consequently, the number of equity shares disclosed and used for computation of earning per share has been adjusted for all the periods presented above.

The stock closed on Friday at Rs.287, down by Rs.1.75 or 0.61%. The total traded quantity was 26824 compared to 2 week average of 9423. The stock hit an intraday high of Rs.292 and low of Rs.282.

Source : Equity Bulls

Keywords