Last Updated :
01 July 2009 at 13:55 IST
GSPL gains momentum over robust FY09 results
Commodity Online
MUMBAI: Gujarat State Petronet Ltd (BOM: 532702) gained after trading into red during initial trading hours on the Bombay Stock Exchange (BSE) today, as the company fared well in the financial results for the year ended March 2009 with net profits rising by 23.5% over the previous year.
GSPL recorded a 23.5% rise in its net profits to Rs.123.41 crore for the fiscal ended March 2009. The company board of directors recommended a dividend of Rs.0.75 per share of Rs.10 (7.5%).
The stock hit a high of Rs.48.90 during the morning session and traded at Rs.48 down by over 0.5% from its previous close. The stock had rose by over 30% over past one quarter.
In the company’s financial results, which were announced after the market hours on Tuesday, company’s net sales rose by 16.7% to Rs.487.50 crore in the year ended March 2009 over the year ended March 2008. However, for the fourth quarter ending March 2009 the company's net profit fell 14.3% to Rs.34.75 crore with a 13.7% rise in net sales to Rs.131.98 crore in Q4 March 2009 over Q4 March 2008.
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