Shares of Gujarat Gas jumped 6% in morning trade on the BSE after the company reported a 93% increase in net profit at Rs234cr in Q1FY19 compared to Rs121cr in the corresponding quarter last year on the back of healthy volume growth.
The company's operational revenues during the quarter rose 47% to Rs2,671cr against Rs1,814cr in the corresponding quarter of the previous fiscal.
The company currently distributes approximately 9.5 mmscmd of natural gas. GGL continues to be India's largest gas distribution company in terms of sales volume, geographical spread and customer base.
Gujarat Gas Ltd is currently trading at Rs174.15, up by Rs10.55 or 6.45% from its previous closing of Rs163.60 on the BSE.
The scrip opened at Rs183 and has touched a high and low of Rs192.40 and Rs172.10 respectively.
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