Gujarat Gas Ltd.'s profit fell sequentially in the first quarter of fiscal 2025, missing analysts' estimates.
The city gas distributor's net profit declined 19% quarter-on-quarter to Rs 330.71 crore in the April–June period, according to an exchange filing on Tuesday. Analysts tracked by Bloomberg had set a consensus estimate of Rs 365 crore.
Gujarat Gas Q1 FY25 Highlights (Consolidated, QoQ)
Revenue up 7.5% to Rs 4,450.30 crore versus Rs 4,134.18 crore (Bloomberg estimate: Rs 4,091 crore).
Ebitda down 9% to Rs 535.64 crore versus Rs 591.08 crore (Bloomberg estimate: Rs 625 crore).
Ebitda margin at 12% versus 14.3% (Bloomberg estimate: 15.3%).
Net profit down 19% to Rs 330.71 crore versus Rs 410.48 (Bloomberg estimate: Rs 365 crore).
Sales Volume
Gujarat Gas' sales volume for the quarter increased 19% year-on-year to 10.98 million metric standard cubic meter per day, as compared to 9.22 million metric standard cubic meter per day a year ago. The company also added more than 37,400 new domestic customers during Q1 FY25.
The industrial sales volume increased to 7.25 mmscmd for the quarter, marking a 23% annual uptick. Volume of 2 lakh standard cubic meter per day was added due to the commissioning of new new industrial customers.
Moreover, as on Q1, the company has a signed volume of 6.30 lakh scmd, which will be commissioned in the coming days.
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