• Gujarat Gas FY16 net profit down 65% at Rs 1.53 billion

    Piped gas distributor, Gujarat Gas Ltd, reported a standalone net profit of Rs 1.53 billion for the financial year ended March 31, 2016, against Rs 4.44 billion in the previous year, showing a decline of over 65 per cent on a year-on-year basis. The total standalone income from operations stood at Rs 61.06 billion for the year as against Rs 90.06 billion in the previous year. The board of directors recommended a dividend of Rs 2.5 per equity share of face value of Rs 10 per share for the year ended March 2016.

    For the fourth quarter, company posted standalone net profit of Rs 580 million as against Rs 200 million in the corresponding quarter a year ago, up 190 per cent. Income from operations for the quarter was lower at Rs 13.78 billion against Rs 14.85 billion in the same period last year. Tyler Bertuzzi Jersey

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