Gujarat State Petronet Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
Awaiting price reaction for this filing.
Gujarat State Petronet (GSPL) reported Q1 FY26 standalone revenue from operations of Rs. 28,389.63 lakhs, down about 20% from Rs. 35,432.89 lakhs in Q1 FY25. Standalone net profit fell to Rs. 14,248.57 lakhs from Rs. 21,202.07 lakhs, a drop of roughly 33% year-on-year, with EPS at Rs. 2.53 versus Rs. 3.76. The decline is largely attributed to the PNGRB tariff order dated April 19, 2024 that cut the levelized tariff on the GSPL HP gas grid from Rs. 34/MMBTU to Rs. 18.10/MMBTU, effective May 1, 2024; GSPL has challenged this in the Delhi High Court. The auditor (B P Bang & Co.) issued an unmodified limited review report. The filing also flags an ongoing composite scheme of amalgamation involving GSPC, GSPL, GEL and Gujarat Gas, plus a pending arbitration with M/s FCC where GSPL deposited Rs. 69.34 crore plus a Rs. 50.61 crore bank guarantee following an adverse award.
Weak quarter for shareholders as the sharp tariff cut is hurting both revenue and profitability, though the legal challenge and pending corporate restructuring could be long-term positive triggers. Investors should watch the Delhi High Court tariff case outcome and the progress of the amalgamation scheme with Gujarat Gas.