Gujarat State Petronet Q2 net profit rises by 19% to Rs 130 crore, shares gain

Gujarat State Petronet Limited (GSPL) on Wednesday reported net profit of Rs 129.83 crore for the second quarter ended September 30, 2016, registering a growth of 18.83% year-on-year (yoy) and 7.06% on a quarter-on-quarter (qoq) basis. 

It's total income from operations stood at Rs 258 crore, which was up by 2.06% yoy but flat qoq. 

On segment-wise revenue breakup, gas transportation business contributed 6.42% growth to Rs 244.37 crore compared to Rs 239.37 crore a year ago same period. 

While the company saw 9.94% growth in sale of electricity to Rs 15.25 crore, versus Rs 13.87 crore in the same period of the previous year.

Shares of GSPL were trading at Rs 157.10 per share, up by 2%. However, before the Q2 results came in, shares were higher at Rs 159 level.