Gujarat Gas Ltd\u2019s shares have been running far ahead of its peers in recent weeks. It is expected to be the biggest beneficiary among city gas distribution firms if gas sales are brought under the ambit of goods and service tax (GST) regime. This is because of its strong exposure to institutional sales. Industrial customers will be able to take input tax credits, thus lowering their gas feedstock cost. Gujarat Gas would also be able to take tax credit on its operating expenses and capex.<\/p>\n
In the December quarter, Gujarat Gas reported a rebound in volumes, with gas consumption picking up after the easing of covid lockdown norms. The company\u2019s net profits last quarter almost doubled from year-ago levels to \u20b9392 crore. \u201c(Profit) stood ahead of our and Street estimates, on stronger than estimated sales volume and lower gas cost,” said analysts at Antique Stock Broking.<\/p>\n
The company\u2019s gas sales volumes came at 11.4 mmscmd (million metric standard cubic metres per day), 23% higher y-o-y. Industrial volumes account for 80% of its total volumes. Rising demand from the Morbi industrial cluster continues to drive volumes, with clients looking for cleaner and cheaper fuels.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gujarat Gas Ltd\u2019s shares have been running far ahead of its peers in recent weeks. It is expected to be the biggest beneficiary among city gas distribution firms if gas sales are brought under the ambit of goods and service tax (GST) regime. This is because of its strong exposure to institutional sales. Industrial customers will be able to take input tax credits, thus lowering their gas feedstock cost. Gujarat Gas would also be able to take tax credit on its operating expenses and capex. In the December quarter, Gujarat Gas reported a rebound in volumes, with gas consumption picking […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-401706","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/401706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=401706"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/401706\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=401706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=401706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=401706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}