Gujarat State Petronet quarterly net profit rises 22%, announces dividend of ₹5 per share

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Gujarat State Petronet Ltd (GSPL) on Wednesday (May 8) reported a 22.2% year-on-year (YoY) increase in net profit at ₹663.1 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Gujarat State Petronet posted a net profit of ₹542.8 crore, the company said in a regulatory filing. The company’s revenue from operations increased 5.9% to ₹4,522.2 crore against ₹4,270.1 crore in the corresponding period of the preceding fiscal.

The company’s EBITDA rose 12.2% to ₹959.8 crore in the fourth quarter of this fiscal over ₹855.2 crore in year-ago period.

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The EBITDA margin stood at 21.12% in the reporting quarter against 20% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board of directors of the company has recommended a dividend of ₹5 per equity share of ₹ 10 each (i.e. at the rate of 50%) for the financial year 2023-24.

The results came after the close of the market hours. Shares of Gujarat State Petronet Ltd ended at ₹294.20, up by ₹3.65, or 1.26%, on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow