Following a ban on coal gasifiers in Morbi district in Gujarat, natural gas distribution company Gujarat Gas has seen an uptick in volumes, which led to a strong performance in Q1 FY20, surpassing expectations. The company also saw a remarkable improvement in profit and margins.
The total volume was up by 42 percent year-on-year, primarily due to the ban on coal gasifiers in the district by the National Green Tribunal. This led to a jump in demand for industrial gas from ceramic manufacturers.
Moneycontrol’s Sakshi Batra does a 3-Point Analysis of the earnings fineprint and the outlook on the company.
Watch the video for more.
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