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Piped gas distributor, Gujarat Gas Ltd, reported a standalone net profit of Rs 153 crore for the financial year ended March 31, 2016, against Rs 444 crore in the previous year, showing a decline of over 65 per cent on a year-on-year basis.
The total standalone income from operations stood at Rs 6,106 crore for the year as against Rs 9,006 crore in the previous year.
The board of directors recommended a dividend of Rs 2.5 per equity share of face value of Rs 10 per share for the year ended March 2016.
For the fourth quarter, company posted standalone net profit of Rs 58 crore as against Rs 20 crore in the corresponding quarter a year ago, up 190 per cent. Income from operations for the quarter was lower at Rs 1,378 crore against Rs 1,485 crore in the same period last year.
Gujarat Gas shares traded positive on the National Stock Exchange (NSE) with a marginal rise of close to 1 per cent at Rs 521.90 on Wednesday.
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