Gujarat Gas Limited raises industrial gas prices from ₹38.43/scm to ₹40.83/scm, effective August 21. This follows five consecutive price cuts in 2023. Earlier at ₹47.93/scm, cuts led to the current price. The increase is attributed to higher spot liquefied natural gas (LNG) prices.
The move comes after the company acquired ₹100 crore shares in Gujarat State Petroleum Corporation LNG Limited to enhance integration in the gas value chain. Gujarat Gas posted a 43% decline in Q2 net profits to ₹215 crore, despite increased industrial gas sales.