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Dolat Capital Report
Gujarat Gas Ltd. results were above our estimates on revenue and profitability fronts.
Volumes were at 906 million metric standard cubic meter which was an increase of 5.4% YoY and of 140% QoQ, with industrial segment growth at 9% YoY and 178% QoQ.
Sales from the industrial segment are currently above Pre Covid-19 levels as sales volume has shown robust recovery post lockdown.
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