Gujarat State Petronet reports 9% fall in Q1 net profit

Gujarat State Petronet has reported results for first quarter ended June 30, 2012.

On standalone basis, the company has reported a fall of 9.11% in its net profit at Rs 124.84 crore for the quarter, as compared to Rs 137.36 crore for the same quarter in the previous year. Total income of the company has decreased by 3.49% to Rs 285.15 crore for the quarter under review as compared to Rs  295.45 crore for the quarter ended June 30, 2011.

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