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Gujarat Gas Shares Zoom 9% Post Q4 Earnings, Net Profit Rallies 262% QoQ

By Malvika Gurung

Investing.com — Shares of the distributor Gujarat Gasoline zoomed 8.7% to Rs 551 apiece at 10:40 am on Wednesday, put up its earnings report for the March quarter, whereas receiving a Purchase name from totally different brokerages.

The corporate’s consolidated web revenue within the March quarter rallied 261.5% QoQ and 27.6% on a YoY foundation to Rs 444.39 crore, whereas whole earnings fell 9.2% on a QoQ foundation and surged 36.34% on a YoY foundation to Rs 4,791.04 crore within the interval.

The gasoline distributor reported an EPS of Rs 6.46 in Q4FY22, skyrocketing 260.89% QoQ and 27.7% on a YoY foundation. It added 155 new CNG stations, taking the overall tally to 711, the best by any CGD participant in India, said a information report.

For the monetary yr 2021-22, Gujarat Gasoline’

  • Internet revenue grew 1.34% YoY to Rs 1,287.37 crore,

  • Whole earnings surged 66.64% YoY to Rs 16,878.22, and

  • EPS grew 1.36% YoY to Rs 18.7.

Brokerages HDFC (NS:) Securities and Citi have put a Purchase name on the gasoline inventory, led by huge margin enchancment, amongst different components. The goal value on the inventory is ready as much as Rs 630/share, an upside of 15.4% in comparison with the present value.

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