Live broadcast of the second quarter results of Gujarat Gas Company: Gujarat Gas Company announced its second quarter results on November 6, 2024. Revenue decreased by 1.06% year-on-year, while profit increased significantly by 4.22%. However, compared with the previous quarter, revenue dropped significantly by 14.44% and profit dropped by 6.64%.
In terms of expenses, selling, general and administrative expenses increased by 2.56% from the previous quarter and decreased slightly by 1.18% from the same period last year. This shows a mixed performance in managing operating costs during the quarter.
Operating income also experienced a slump. Although it increased by 1.56% compared with the same quarter last year, it fell by 6.77% from the previous quarter. This highlights some of the challenges of maintaining operational efficiency in the current market environment.
Second quarter earnings per share (EPS) were $4.48, an annual increase of 4.19%. Amid revenue declines, earnings per share growth may provide some comfort to investors.
In terms of stock performance, Gujarat Gas Corporation returned 0.11% last week. However, the company has lost 3.37% over the past six months and has returned 14.38% year-to-date.
The current market capitalization of the company is $36,336.67 Crores, a new 52-week high $689.95 and lowest price $412. This range shows some volatility in the stock price over the past year.
As of November 7, 2024, analysts covering Gujarat Gas Corporation were in consensus for the Hold, with 6 analysts recommending a Strong Sell, 5 analysts recommending a Sell, and 6 recommending a Hold , 5 analysts recommend a Buy and 6 recommend a Strong Buy. The mixed opinions reflect the mixed emotions surrounding the company’s performance.
Overall, while Gujarat Gas managed to post year-on-year profit growth, revenue decline and operational challenges created a complicated picture for investors and analysts.
Gujarat Gas Corporation Financials
| period | Q2 | Q1 | Quarterly growth | Q2 | annual growth |
|---|---|---|---|---|---|
| total revenue | 3948.65 | 4614.83 | -14.44% | 3991.15 | -1.06% |
| Total Selling/General/Administrative Expenses | 50.11 | 48.86 | +2.56% | 50.71 | -1.18% |
| Depreciation/amortization | 129.54 | 123.09 | +5.24% | 117.92 | +9.85% |
| total operating expenses | 3564.03 | 4202.28 | -15.19% | 3612.45 | -1.34% |
| operating income | 384.62 | 412.55 | -6.77% | 378.7 | +1.56% |
| net income before tax | 417.03 | 444.23 | -6.12% | 399.16 | +4.48% |
| net income | 308.74 | 330.71 | -6.64% | 296.25 | +4.22% |
| Diluted normalized earnings per share | 4.48 | 4.8 | -6.67% | 4.3 | +4.19% |
