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IDBI Capital Report
Gujarat State Petronet Ltd.'s Q2 FY21 result was in-line with our estimates where it recorded highest-ever gas transmission volume.
Revenue declined by 9.2% YoY to Rs 5.8 billion due to lower realisation at Rs 1.6/ standard cubic meter, down 10% YoY.
Though gas transmission volume crossed pre-Covid-19 level and registered a growth of 1.5% YoY to 39.8 million metric standard cubic meter per day (up 20% QoQ).
Ebitda/scm declined to Rs 1.04/scm in Q2 FY21 from Rs 1.21/scm in Q2 FY20 due to lower tariff and higher other expenses.
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