City gas distribution player, Gujarat Gas Company Ltd posted standalone net profit of Rs 62 crore for the quarter ended March 2015, up 26 per cent from Rs 49 crore in the corresponding period last year.

Company's total income, however, fell by 29 per cent to Rs 564 crore for the quarter against Rs 793 crore in the same period last year, a company statement said.

Gujarat Gas shares ended lower on Friday at Rs 708.35 crore down by close to 7 per cent from its previous close on the BSE. The counter had hit a 52-week high of Rs 862 early this week on April 21, while it hit a 52-week low at Rs 359 on May 9, 2014.

For the fiscal 2014-15, company's net profit stood at Rs 312 crore against Rs 420 crore last year. Company's total income for the year fell to Rs 2590 crore from Rs 3989 crore in the previous year.

On consolidated basis, GGCL net profit stood at Rs 63 crore for the quarter, up 28 per cent from Rs 49 crore in the same period last year. Total consolidated income for the quarter was Rs 564 crore down from Rs 793 crore for the corresponding period a year ago.

Company's consolidated net profit for the fiscal 2014-15 stood at Rs 314 crore against Rs 419 crore last year, on a total income of Rs 2593 crore for the year under review against Rs 3993 crore last year.

"The previous Financial Year that began on January 01, 2013 had been extended by a period of three months, to close on March 31, 2014, so that the Financial Statements giving effect to such extension had been compiled for a period of 15 months from January 01, 2013 to March 31, 2014. Hence, the current period's results for 12 months ended on March 31, 2015 are not comparable with the previous period's results for 15 months ended on March 31, 2014," the company informed in a stock exchange filing.

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