Gujarat State Petronet shares correct after fall in Q2 profits

Stocks

Consolidated revenue from operations at Rs 4,159 crore increased by 37.4 percent compared to Rs 3,027.73 crore revenue in the corresponding period last fiscal.

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Natural gas transmission company Gujarat State Petronet share price corrected 2.54 percent on November 4, the Diwali Muhurat Trading Day 2021, after sharp fall in profits for the September quarter.

The stock settled down at Rs 316.65 on the BSE, with market capitalisation of Rs 17,865.75 crore.

The company reported 28.5 percent year-on-year fall in profit at Rs 512.59 crore for the quarter ended September 2021, impacted by sharp rise in raw material cost.

Profit in the year-ago period stood at Rs 716.5 crore.

Consolidated revenue from operations at Rs 4,159 crore increased by 37.4 percent compared to Rs 3,027.73 crore revenue in the corresponding period last fiscal.

Cost of raw material consumed at Rs 2,860.44 crore in Q2FY22 has seen significant increase compared to Rs 1,478.96 crore in year-ago period.