Gujarat Gas Ltd.'s first-quarter profit declined 43%, missing analysts' estimates.
The company's net profit fell to Rs 216 crore in the quarter ended June, according to an exchange filing on Wednesday. That compares with Rs 304.3 crore consensus estimates of analysts tracked by Bloomberg.
Gujarat Gas Q1 FY24 Highlights (Consolidated, YoY)
Revenue from operations fell 26% to Rs 3,923.7 crore (Bloomberg estimate: Rs 3,971.6 crore).
Ebitda fell 36% to Rs 388 crore (Bloomberg estimate: 516.3 crore).
Ebitda margin fell to 9.89% from 11.44% a year ago (Bloomberg estimate: 13%).
Shares of Gujarat Gas closed 1.79% higher at Rs 119.60 apiece, compared with a 0.55% rise in the benchmark NSE Nifty 50.
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