Gujarat State Petronet reports 31% rise in Q1 net profit

Gujarat State Petronet has reported unaudited results for the first quarter ended June 30, 2011.

The company’s net profit after for the quarter ended June 30, 2011 rose 30.70% at Rs 137.37 crore as compared to Rs 105.10 crore for the corresponding quarter last year. Its total income increased 14.75% at Rs 295.46 crore for the quarter under review from Rs 257.49 crore for the same quarter last year.

Gujarat State Petronet is a subsidiary Gujarat State Petroleum Corporation (GSPC). It has the taken initiative in developing energy transportation infrastructure in Gujarat and connecting major natural gas supply sources and demand markets.