Shares of Gujarat Gas zoomed 17 per cent to Rs 192 in Wednesday’s early morning trade on the BSE in an otherwise weak market after the company reported a strong 92 per cent jump in net profit at Rs 234 crore in June 2019 quarter (Q1FY19) on the back of healthy volume growth. The integrated oil & gas Company had registered a profit of Rs 122 crore in the same quarter of last fiscal.
On the National Stock Exchange (NSE), the stock rallied 12 per cent to Rs 183 in early morning trade. It was trading close to its 52-week high level of Rs 194 touched on June 3, 2019. In comparison, the benchmark indices – S&P BSE Sensex and Nifty 50 index — were down 1 per cent each.
The company’s operational revenues during the quarter rose 47 per cent at Rs 2,671 crore against Rs 1,814 crore in the corresponding quarter of previous fiscal.
