Gujarat Gas Ltd Q2 FY25 Results: 12% CNG Volume Growth but Revenue Loses Steam

Gujarat Gas reported its financial results for the second quarter of fiscal year 2024-25, showing notable growth in key areas despite a slight drop in overall revenue. The company’s compressed natural gas (CNG) volumes increased significantly, driven by strong demand and favourable government policies.

Key Highlights of Quarterly Performance

• Revenue and Earnings Growth: Gujarat Gas’s revenue for Q2 was ₹3,949 crore, slightly down from ₹3,991 crore in Q2 of the previous year. However, EBITDA rose by 5% to ₹553 crore, and profit after tax (PAT) increased by 3% to ₹307 crore.
• Sales Volumes and Segment Breakdown: Total sales volumes for the quarter were 8.75 mmscmd, with CNG sales at 2.93 mmscmd and industrial segment volumes at 4.91 mmscmd. Domestic PNG volumes reached 0.76 mmscmd, while commercial PNG added 0.15 mmscmd.

Expansion and New Connections

To meet rising demand, Gujarat Gas expanded its operations by adding 38,500 new domestic connections and establishing nine new CNG stations. The company also signed an additional 527,000 scmd of industrial volume, scheduled for commissioning in the coming months, further supporting its growth trajectory.

About Gujarat Gas Limited

Gujarat Gas Limited (GGL), a government-owned company under Section 2(45) of the Companies Act 2013, was formerly known as GSPC Distribution Networks Limited (GDNL). GGL operates in India’s natural gas sector, managing the distribution of gas from supply points to demand centres and end customers. The company provides CNG (Compressed Natural Gas) and PNG (Piped Natural Gas) connections across domestic, industrial, commercial, and non-commercial segments in regions like South and Central Gujarat, as well as Saurashtra.

On November 7, 2024, Gujarat Gas’s share price opened at ₹533.75 and touched the day high of ₹553.00 at 11:13 AM.

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