Gujarat State Petronet surges on reporting 31% rise in Q1 net profit

Gujarat State Petronet is currently trading at Rs 103.30, up by 1.15 points or 1.13% from its previous closing of Rs 102.15 on the BSE.

The scrip opened at Rs 104.05 and has touched a high and low of Rs 106.00 and Rs 102.50 respectively. So far 313264 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 128.25 on 20-Oct-2010 and a 52 week low of Rs 76.60 on 07-Jul-2011.

Last one week high and low of the scrip stood at Rs 107.50 and Rs 99.70 respectively. The current market cap of the company is Rs 5747.10 crore.

The promoters holding in the company stood at 37.74% while Institutions and Non-Institutions held 40.35% and 21.91% respectively. 

Gujarat State Petronet’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.