Gujarat State Petronet strong quarterly earnings

Gujarat State Petronet gained almost 1% to Rs 57 at 9:55 IST on BSE on reporting 110.5% surge in net profit to Rs 40.57 crore on 39.7% increase in net sales to Rs 116.10 crore in Q4 March 2008 over Q4 March 2007.

The company announced the results after trading hours on Friday, 27 June 2008.

The stock hit a high of Rs 57 and a low of Rs 56.65 so far during the day. The stock had a 52-week high of Rs 114.45 on 7 January 2008 and a 52-week low of Rs 50 on 22 August 2007.

The company has an equity capital of Rs 562.02 crore. Face value per share is Rs 10.

The current price of Rs 57 discounts its Q4 March 2008 annualised EPS of Rs 2.89, by a

PE multiple of 19.72.

Gujarat State Petronet’s net profit rose 11.8% to Rs 99.92 crore on 31.60% increase in net sales to Rs 417.90 crore in the year ended March 2008 over the year ended March 2007.

The company connects various supply sources and users of natural gas in Gujarat through gas pipeline network. It involves transportation of natural gas from sources of supply to the end customers.