Gujarat Gas rallied over 4 per cent early on Monday as its Q4 earnings gained traction.
The company posted 99 per cent year-on-year rise in net profit at Rs 65.95 crore for the quarter to March.
The figure stood at Rs 33.14 crore in the same period last year.
The scrip was trading 4.21 per cent up at Rs 878 at around 9.45 am (IST).
It opened at Rs 847.95 and touched a high and low of Rs 893 and Rs 847, respectively, so far.
Benchmark BSE Sensex was up 66.78 points, or 0.19 per cent, at 35,602 at around the same time.Sales jumped 23.81 per cent to Rs 1,733.61 crore in January-March against Rs 1,400.22 crore a year earlier.
The board has also recommended a dividend of Rs 4 per share of face value of Rs 10 each.
ICICIdirect.com said, Gujarat Gas reported a good set of numbers on the volume front while profitability was below estimates on account of higher tax rate and lower than expected increase in gross margins.Earnings per share (EPS) read Rs 4.79 for the three months to March against Rs 2.41 previously.