Gujarat Gas Q4 PAT up 67 pc

New Delhi, Feb 23 (UNI) Gujarat Gas Company Ltd today posted 67.2 per cent increase in its net profit at Rs 18.23 crore for the fourth quarter ended December 31, 2006, as compared to Rs 10.90 crore for the same period last year.

Its total income also rose to 44.7 per cent at Rs 237.15 crore during the said period as against Rs 163.84 crore for the quarter ended December 31, 2005.

''Our initiatives of focusing on growing the retail business and investing in the infrastructure over the last two years have started yielding desired results. This year, we contracted for additional gas from the Panna, Mukta and Tapti consortium and we are confident the investment in infrastructure and additional volume will sustain the growth momentum,'' company Managing Director B S Shantharaju said.

In the first week of January, the company has achieved the sales of four million cubic meters in a single day, he added.

Its total income, increased to 33.16 per cent at Rs 844.72 crore during the year ended December 31, 2006 as compared to Rs 634.36 crore, a year ago.

However, the company posted a drop of 1.65 per cent in net profit at Rs 88.89 crore for the said period as compared to Rs 90.39 crore for the same period last year.

UNI