Gujarat Energy Ltd reports a 70% rise in net profit for June quarter, driven by robust growth in city gas distribution and gas trading segments, while power generation underperforms.
Gujarat Energy Ltd said its consolidated net profit rose 70 per cent in the June quarter to ₹999 crore, helped by stronger performance in its city gas distribution and gas trading businesses. Consolidated revenue from operations climbed 62 per cent to ₹9,771 crore, according to the company’s results published on August 11.
The city gas distribution division was the main driver, with revenue up 90 per cent in the quarter, while gas trading increased about 91 per cent. Smaller businesses also contributed to the stronger top line: exploration and production revenue rose 24 per cent and regasification revenue increased 81 per cent.
Not every segment moved in the same direction. The power generation arm remained a weak spot, with revenue falling 42 per cent in the quarter. Shares of Gujarat Energy finished 3.25 per cent higher at ₹274.40 on the BSE on Tuesday, suggesting investors welcomed the earnings beat.
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