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Home STOCKS GSPL Q4 final results: Net profit rises 86% to Rs 497.67 crore

GSPL Q4 final results: Net profit rises 86% to Rs 497.67 crore

New Delhi: Gujarat State Petronet Ltd (GSPL) on Monday reported 86 for every cent soar in March quarter net profit on a constant increase in revenue.
Consolidated net profit of Rs 497.67 crore in January-March, 2020 when compared with Rs 266.78 crore in the exact period a calendar year back, the business reported in a regulatory filing.
Revenue rose to Rs 3,232.26 crore from Rs 2,379.79 crore.
For the full fiscal 2019-20, net profit rose to Rs 2,278.63 crore on a revenue of Rs 12,578.11 crore from Rs 1,198.39 crore on revenue of Rs 9,691.38 crore.
GSPL said it has opted for a decrease rate of tax rate and its impact is viewed in total-yr earnings.
“Thanks to the outbreak of COVID-19 globally and in India, the firm’s management has manufactured an initial assessment of the impact on business enterprise and financial risks on account of COVID-19.
“The organization is in the business of fuel transmission which is regarded as an crucial service and the management believes that the affect of this outbreak on the small business and monetary position of the business is really marginal as at the day of approval of these money statements,” the filing stated.
The administration, it stated, does not see any threats in the company’s ability to go on as a heading worry and conference its liabilities as and when they drop thanks.

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