GSPL’s net profit jumps 16.4% in Q4 FY24 y-o-y to Rs 261.12 cr

Gujarat State Petronet Limited (GSPL) has recorded a 16.4 percent bump in Profit after Tax (PAT) in Q4 of FY2023-24 year-on-year at Rs 261.12 crore
GSPL’s net profit jumps 16.4% in Q4 FY24 y-o-y to Rs 261.12 cr
GSPL’s net profit jumps 16.4% in Q4 FY24 y-o-y to Rs 261.12 crPSUWatch
Summary
  • 16.4 percent bump in PAT in Q4 of FY2023-24 year-on-year

  • On quarter-on-quarter basis, net profit dropped by 0.40 percent

  • For the entire financial year 2023-24, GSPL’s net profit rose by nearly 36 percent y-o-y

  • GSPL's Q4 gas transmission volume was up nearly 15 percent y-o-y

  • Dividend of Rs 5 per share declared for financial year 2023-24

New Delhi: Gujarat State Petronet Limited (GSPL) has recorded a 16.4 percent bump in Profit after Tax (PAT) in Q4 of FY2023-24 year-on-year at Rs 261.12 crore mainly on account of a drop in gas transmission expenses. The figure for the corresponding year-ago period was Rs 224.33 crore. While GSPL incurred gas transmission expenses of Rs 68.96 crore in the March quarter of FY2022-23, the expense dropped to Rs 52.06 crore in the quarter under review. On quarter-on-quarter basis, GSPL’s net profit dropped only by 0.40 percent.

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For the entire financial year 2023-24, GSPL’s net profit rose by nearly 36 percent, up from Rs 944.95 crore in FY2022-23 to Rs 1,284.64 crore in FY2023-24.

GSPL’s total income rises 9.33 percent in Q4 FY24 y-o-y

GSPL’s total income in Q4 of FY2023-24 rose 9.33 percent year-on-year to Rs 536.43 crore as opposed to Rs 490.64 crore in the corresponding quarter of the previous financial year. In the March quarter of FY24, GSPL’s revenue from gas transporation was Rs 501.11 crore, up from Rs 421.52 crore recorded in the corresponding quarter of FY23. Revenue from electricity sales stood at Rs 5.70 crore in Q4 FY24 as opposed to Rs 5.46 crore in Q4 of FY23. Revenue from gas sales was Rs 16.03 crore in Q4 of FY23 and zero for Q4 of FY24.

For entire FY2023-24, total income was up 22.60 percent, from 1,930.21 crore in FY2022-23 to Rs 2,366.59 crore in FY24.

The company’s Q4 gas transmission volume was up nearly 15 percent from 29.02 MMSCMD in Q3 to 33.37 MMSCMD in Q4 of FY24. Data also showed that sectoral gas volumes declined for City Gas Distribution (CGD) networks from 39.68 percent in Q4 of FY23 to 37.45 percent in Q3 if FY24 and futher to 34.25 percent in Q4 of FY24. The share of power sector, on the other hand, rose from 4.98 percent in Q4 of FY23 to 8.81 percent in Q4 of FY24.

GSPL’s net profit jumps 16.4% in Q4 FY24 y-o-y to Rs 261.12 cr
IGL Q4 net profit rises by 16% to Rs 382.80 crore

At a meeting held on Wednesday, GSPL’s Board of Directors recommended a dividend of Rs 5 per share of Rs 10/- each for the financial year 2023-24.

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