Net profit of Gujarat State Petronet declined 14.42% to Rs 372.99 crore in the quarter ended March 2023 as against Rs 435.82 crore during the previous quarter ended March 2022. Sales declined 14.43% to Rs 4270.16 crore in the quarter ended March 2023 as against Rs 4990.23 crore during the previous quarter ended March 2022.

For the full year,net profit rose 0.20% to Rs 1641.50 crore in the year ended March 2023 as against Rs 1638.28 crore during the previous year ended March 2022. Sales rose 0.70% to Rs 18116.59 crore in the year ended March 2023 as against Rs 17990.84 crore during the previous year ended March 2022.

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Revenue from Gas Transportation was Rs 421.52 crore (down 1.38% YoY) while that from Electricity Sales was Rs 5.46 crore (down 4.38% YoY) and revenue from gas sales was at Rs 16.03 crore during the quarter.

Profit before tax during the quarter stood at Rs 293.08 crore, registering a growth of 12.8% on YoY basis.

The company's Q4 transmission volume was 25.08 mmscmd (million metric standard cubic metres per day), down 14.31% YoY.

For Q4, total expenditure rose 9.91% YoY to Rs 197.57 crore. Gas transmission expense was Rs 68.97 crore (down 14.68% YoY) and finance cost stood at Rs 1 crore (down 70.67% YoY) while employee benefits exepenses was at Rs 16.14 crore (up 11.12% YoY).

On a consolidated basis, the company's net profit skid 14.42% to Rs 372.99 crore on 13.32% decline in net sales to Rs 4,415.41crore in Q4 FY23 over Q4 FY22.

On yearly basis, the company's net profit declined 6.4% to Rs 944.95 crore on 12.8% fall in net sales to Rs 1,761.80 crore in FY23 over FY22.

Meanwhile, the board recommended a dividend of Rs 5 per equity share for the financial year ended 31 March 2023.

Gujarat State Petronet's primary business objective is to connect various supply sources and users of natural gas in Gujarat through its gas pipeline network. GSPL is the leader in natural gas transmission business in Gujarat and is the second-largest natural gas transmission player in India. GSPL also sells electricity generated through its 52.50 MW windmills.

The scrip rose 0.33% to currently trade at Rs 289.70 on the BSE.

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Gujarat State Petronet announced that the Board of Directors of the Company at its meeting held on 11 May 2023, has recommended a Final dividend of Rs.5 per share (i.e.50%), subject to the approval of the shareholders.

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Net profit of Gujarat State Petronet rose 11.03% to Rs 224.33 crore in the quarter ended March 2023 as against Rs 202.05 crore during the previous quarter ended March 2022. Sales rose 2.28% to Rs 443.01 crore in the quarter ended March 2023 as against Rs 433.12 crore during the previous quarter ended March 2022.

For the full year,net profit declined 6.42% to Rs 944.95 crore in the year ended March 2023 as against Rs 1009.75 crore during the previous year ended March 2022. Sales declined 12.78% to Rs 1761.80 crore in the year ended March 2023 as against Rs 2020.02 crore during the previous year ended March 2022.

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