Gujarat Gas sales volume at 9.8 mmscmdGUJGASLTD - 443 Change: 1.55 (0.35 %)
News: Revenue for Q1FY23 increased 71.7% YoY to Rs 5170.1 crore on account of higher realisation. Total volume declined 2.6% YoY and 1.4% QoQ to 9.8 mmscmd. Gross margins declined Rs 0.6/scm YoY and Rs 0.8/scm QoQ to Rs 9.8/scm. EBITDA stood at Rs 606.6 crore, down 16.1% YoY and 13% QoQ. Reported PAT stood at Rs 381.1 crore, down 20% YoY and 14.2% QoQ.
View: Results were ahead of our estimates on profitability front. Earnings were driven by higher than expected realization and gross margins whereas sales volume was lower than expectations. Sales volume is currently around 9 mmscmd. In the medium term, maintaining balance between volume and margin will be key to the company's performance.