Operating margins fell 140 bps to 87.7% during quarter ended September 2016 as operation and maintenance expenses rose 210 bps to 6.8% as a percentage of adjusted net sales while other expenses remained rose 60 bps to 2.6% while employee benefit expenses fell 130 bps to 3%.

Operating profit was flat at Rs 226.16 crore. Other income increased 131% to Rs 28.73 crore leading to 7% increase in PBDIT to Rs 254.89 crore. Interest cost fell 33% to Rs 14.8 crore. Depreciation was down 5% to Rs 43.61 crore. As a result PBT was up 16% at Rs 196.48 crore. Considering 170 bps fall in effective rate of taxes to 33.9% GSPL reported a 19% increase in bottomline to Rs 129.83 crore.

For H1FY'17 GSPL reported a 1% increase in income from operations to Rs 516.14 crore compared to corresponding previous year period as gas volumes transported increased 3% to 4553.35 MMSCM. On segment basis gas transportation revenue were flat at Rs 489.86 crore while electricity revenues increased 15% to Rs 29.59 crore.

Operating margins rose 70 bps to 89% leading to 2% increase in operating profit to Rs 459.47 crore. Other income increased 83% to Rs 43.14 crore leading to 6% increase in PBDIT to Rs 502.61 crore. Interest cost fell 27% to Rs 31.47 crore. Depreciation was down 3% to Rs 86.59 crore. As a result PBT was up 12% at Rs 384.55 crore. Considering 60 bps rise in effective rate of taxes to 34.7% GSPL reported a 13% increase in bottomline to Rs 251.09 crore.

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