Gujarat Gas received authorization from the Petroleum and Natural Gas Regulatory Board (PNGRB) for the city gas distribution areas of Surat, Bharuch and Ankleshwar. The company filed tariff application with PNGRB for its transmission pipeline. However, owing to high ROE (return on equity) of over 30 percent, the company is vulnerable to tariff reduction from PNGRB, as was ordered for Indraprastha Gas. This is an operational performance risk, poin
Tag: Gujarat Gas Company
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Sales of Gujarat Gas rises in Dec quarter
The consolidated net sales of Gujarat Gas Company rose to Rs 756.5 crore during the quarter ended December 31, 2012 from Rs 641.5 crore in the year-ago period. The consolidated net profit of the firm rose to Rs 70.6 crore from Rs 25 crore during this interval, Sugata Sircar, Managing
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Dependence of imported fuel prompts GGCL to hike CNG price
Gujarat Gas Company (GGCL) hiked the price of compressed natural gas (CNG) for all the consumers in Surat, Bharuch and Ankleshwar citing the increase in import dependence for the fuel. The price has been raised from Rs 51.95 per kilogram to Rs 56.30 per kilogram following the sharp increase in price
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Dependence of imported fuel prompts GGCL to hike CNG price
Gujarat Gas Company (GGCL) hiked the price of compressed natural gas (CNG) for all the consumers in Surat, Bharuch and Ankleshwar citing the increase in import dependence for the fuel. The price has been raised from Rs 51.95 per kilogram to Rs 56.30 per kilogram following the sharp increase in price
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GDNL allowed to acquire stake in Gujarat Gas
GSPC Distribution Networks (GDNL) is allowed to acquire 65.12 per cent stake in Gujarat Gas Company by the Competition Commission of India (CCI). The commission approved the acquisition because it feels that the deal may not have any adverse impact on competition in the natural gas distribution market