Gujarat State Petronet Q4 Review - Domestic Gas Set To Save The Day: ICICI Securities

Gas pipelines of Gujarat State Petronet Ltd. (Source: Company website).

Gujarat State Petronet Q4 Review - Domestic Gas Set To Save The Day: ICICI Securities

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ICICI Securities Report

Gujarat State Petronet Ltd.’s Q4 FY21 standalone earnings per share was down 9% YoY, despite flat profit before tax, hit by 37% YoY rise in tax on a low base; 50% YoY fall in interest cost made up for volume fall.

Consolidated Q4 profit before tax was up 25% YoY on 45% surge in profit before tax of subsidiary Gujarat Gas Ltd., but earnings per share was up just 9% YoY on tax jump.

High spot liquefied natural gas and Covid-19 are headwinds, but rise in domestic gas Gujarat Gas use will support its margin and that Gujarat State Petronet transports will support its volumes.

Click on the attachment to read the full report:

ICICI Securities Gujarat State Petronet Q4FY21 Result Update.pdf


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