Moneycontrol
Oct 19, 2016 01:45 PM IST IST | Source: Moneycontrol.com

Gujarat Gas Q2 PAT seen up 4% to Rs 78.9 cr: Religare

Net Sales are expected to increase by 3.8 percent Q-o-Q (down 19.1 percent Y-o-Y) to Rs 1262.7 crore, according to Religare.


Religare has come out with its second quarter (July-September) earnings estimates for the India Energy sector. The brokerage house expects Gujarat Gas to report net profit at Rs 78.9 crore, up 4 percent quarter-on-quarter.


Net Sales are expected to increase by 3.8 percent Q-o-Q (down 19.1 percent Y-o-Y) to Rs 1262.7 crore, according to Religare.


Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 4.4 percent Q-o-Q (up 62 percent Y-o-Y) to Rs 219.4 crore.


Religare's report on Gujarat Gas


Earnings to improve marginally to Rs 789mn (+4% QoQ) on higher volumes. Gross spreads to remain stable at Rs 7/scm.


GUJGA has consistently disappointed with declining volumes against management guidance (of a growth in volumes). We see a high probability of earnings downgrade for the stock as volumes continue to trend lower.

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