Gujarat State Petronet Q3FY16 Result Update; Higher other income drive the quarter; Buy; Target: Rs163
Operationally in-line result, however beat came at PAT level on account of higher other income, which is attributable to ~Rs0.17bn of dividend income from Gujarat Gas. Revenue and EBITDA came in line with our est. Revenue came in at Rs2.5bn (our est. Rs2.5bn) and EBITDA came in at Rs2.1bn (our est. Rs2.1bn) Transmission tariff remained flat sequentially at Rs1.07/scm. However, transmission...