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IDBI Capital: Gujarat State Petronet’s  Q2 Result In-Line With Estimates; Volume Set To Rise Further With Higher LNG Import

IDBI Capital: Gujarat State Petronet’s  Q2 Result In-Line With Estimates; Volume Set To Rise Further With Higher LNG Import

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

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IDBI Capital Report

Gujarat State Petronet Ltd.’s Q2 FY21 result was in-line with our estimates where it recorded highest-ever gas transmission volume.

Revenue declined by 9.2% YoY to Rs 5.8 billion due to lower realisation at Rs 1.6/ standard cubic meter, down 10% YoY.

Though gas transmission volume crossed pre-Covid-19 level and registered a growth of 1.5% YoY to 39.8 million metric standard cubic meter per day (up 20% QoQ).

Ebitda/scm declined to Rs 1.04/scm in Q2 FY21 from Rs 1.21/scm in Q2 FY20 due to lower tariff and higher other expenses.

Click on the attachment to read the full report:

IDBI Capital Gujarat State Petronet Q2FY21 Result Update.pdf

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