PL First Cut - GSPL Q1FY24

PL First Cut – GSPL Q1FY24 – Swarnendu Bhushan – Co Head of Research, Prabhudas Lilladher Pvt Ltd

GSPL Q1FY24 First Cut: Significant growth in volumes

# GSPL reported ­­­an EBITDA/PAT of Rs 3.4Bn ( +14% Q/Q) and Rs 2.3 Bn ( +2% Q/Q) respectively.

# Gas sales volumes for Q1 were at 29.4 mmscmd (+17% Q/Q; 25.1 mmscmd in Q4FY23)

# City gas distribution volumes came in at 10.4 mmscmd (+7% Q/Q)

# Power sector saw significant growth in volumes at 4 mmscmd (223 %Q/Q)

# Refinery/petchem and fertilizer volumes were down 2% and 4% QoQ to 6.6 mmscmd and 3.4 mmscmd.

# Implied tariff was Rs 1435/mscm