Gujarat Gas to Set Up 200 CNG Stations in Next 2 Years

In its most ambitious extension ever, city gas distribution company Gujarat Gas Ltd is intending to set up 200 Compressed Natural Gas (CNG) stations over India in the following two years, even as the government pushes the idea of electric vehicles.

Last financial year, the organization included 69 CNG stations, the highest ever to its count of more than 344 CNG stations.

Gujarat Gas Ltd (GGL) is present across 23 regions in the State of Gujarat, Union Territory of Dadra and Nagar Haveli and Thane Geographical Area (GA) (barring already authorized area), including Maharashtra’s Palghar locale. In 10th CGD offering round declared by the PNGRB, the company has won 6 GAs including 17 cities in the state of Punjab, Haryana, Madhya Pradesh and Rajasthan.

For the first quarter of this financial year, Gujarat Gas posted a 91.65 per cent expansion in net profit to Rs.234.04 crore (US$ 0.03 billion), against Rs.122.12 crore (US$ 0.017 billion) a year ago.

The company’s operational income was up 47 per cent to Rs.2,671 crore (US$ 0.38 billion) in the first quarter, against Rs.1,814 crore (US$ 0.25 billion) in the year-ago period. earning before tax, expense, tax depreciation and amortization or EBITDA margin jumped strongly to Rs.5.6 per standard cubic meters.

The company has around 23,200 km of gas pipeline network. It distributes around 8.5 million metric standard cubic meters of gas every day to about 13,55,000 households, around 2 lakh CNG vehicles (serving every day) and to more than 3,540 industrial customers

Source: IBEF

Image Courtesy: DNA