Gujarat State Petronet's Q2 financials show decline in profits and efficiency
Gujarat State Petronet, a midcap company in the gas transmission and marketing industry, recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.
According to the financials, the company has seen a negative performance in the second quarter of the fiscal year 2024-2025, with a score of -15 compared to 2 in the previous quarter. However, there are some positive aspects to the company's financials. The cash and cash equivalents have increased to Rs 2,790.14 crore, the highest in the last six half-yearly periods, indicating an improvement in short-term liquidity.
On the other hand, there are some areas that are not working in favor of Gujarat State Petronet. The profit before tax (PBT) has fallen by 28.1% to Rs 501.14 crore compared to the average PBT of the previous four quarters. The same trend is seen in the profit after tax (PAT) and net sales, which have fallen by 32.1% and 10.9% respectively. The company's operating profit and operating profit margin have also decreased, indicating a decline in efficiency. The earnings per share (EPS) have also decreased, creating lower earnings for shareholders.
One positive aspect to note is the increase in non-operating income, which has reached its highest in the last five quarters. However, it is important to consider that this income may not be sustainable in the long term.
Overall, the financial results for the quarter ending September 2024 show a negative trend for Gujarat State Petronet. Investors are advised to hold their stock and monitor the company's performance in the upcoming quarters.
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