Gujarat Gas Q2 net drops by 0.27 pc to Rs 27.63 crore

Mumbai, July 27 (UNI) Gujarat Gas Company Ltd posted a profit after tax of Rs 27.63 crore for the quarter ended June 30, 2006, as against Rs 27.71 crore for the corresponding quarter last year, declining marginally by 0.27 per cent.

Announcing the results, the company said its total income (net of excise) of the company increased from Rs 149.96 crore for the quarter ended June 30, 2005 to Rs 197.04 crore for the quarter ended June 30, 2006.

It entered a Business Transfer Agreement (BTA) with BG India Energy Services (BGIESPL) in June 2006 for the acquisition of the latter's cogeneration of power business.

The acquisition would be conducted by way of transfer of assets and liabilities on a slump sale basis.

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