Gujarat Gas Limited reported a 16 per cent year-on-year (YoY) fall in net profit in the fourth quarter of the financial year (FY) 2022-23. The net profit during the quarter stood at Rs 3.69 billion as against Rs 4.44 billion in the same period during FY 2021-22.

The revenue from operations witnessed a fall of 14 per cent on YoY basis from Rs 47.73 billion to Rs 40.73 billion for the same duration and the profit after tax increased by 19 per cent to Rs 15.25 billion from Rs 12.85 billion. 

Moreover, the total gas sales volume for the quarter ended on March 31, 2023 was 8.86 million standard cubic meters per day (mmscmd) as against 7.29 mmscmd in the quarter ended on March 31, 2022, recording a rise of 22 per cent. 

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.