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 Director of the firm said.
The firm sold 270 mscm of gas during the Oct-Dec 2012 quarter from 314 mscm in the year-ago period. Volumes in the industrial segment have been undergoing a churn with increasing price of gas.
During the quarter, the firm connected 7,300 residential customers and converted about 5,100 vehicles to CNG in addition to commissioning additional volumes in the industrial sector.
Annual sales of the firm rose 29 per cent and net profit expanded 5 per cent for the calendar year 2012, ended December 31, 2012, as compared to the corresponding period the year before. The consolidated net sales for 2012 were Rs 3,066 crore (Rs 2,381 crore).
GGCL’s distribution network has been extended by laying 59 km of additional steel pipelines in 2012. Eight new CNG stations were commissioned, about 34,600 residences have been connected and more than 23,400 vehicles converted to CNG during 2012.