Gujarat Gas shares plummeted 7% after invoking force majeure notices due to Middle East geopolitical tensions disrupting R-LNG supplies. The company restricted daily contracted quantities for industrial customers effective March 6, 2026, citing severely constrained liquefied natural gas availability. This marks the second energy sector company to invoke force majeure, following Petronet LNG's similar action on March 3. Gujarat Gas noted that war acts lack insurance coverage and financial impact cannot be estimated currently. The company will monitor developments closely. Meanwhile, Q3 results showed revenue declining 3.2% sequentially to Rs 3,658 crore with net profit down 4.6% to Rs 267 crore, though operating margins improved 30 basis points to 12.2%. Industrial volumes fell sharply by 19.7% while CNG volumes rose 11% sequentially.
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