Gujarat Gas Limited has reported a 43.46 per cent year on year (YoY) fall in net profit in the first quarter of financial year (FY) 2023-24. The net profit during the quarter stood at Rs 2.16 billion as against Rs 3.82 billion in the same period during 2022-23.
The revenue from operations witnessed a fall of 26 per cent on YoY basis from Rs 53.03 billion to Rs 39.24 billion for the same duration under consideration.
Gujarat Gas Limited is one of India’s largest city gas distribution (CGD) companies operating in 44 districts in 6 states of Gujarat, Maharashtra, Rajasthan, Haryana, Punjab and Madhya Pradesh and one union territory of Dadra & Nagar Haveli.