GAIL (India), the state-run natural gas company, on Tuesday reported a 70.3% jump in its September quarter standalone net profit at ₹2,404.89 crore from ₹1,412 crore in the previous quarter.
On a consolidated basis, the company’s net profit in Q2FY24 rose 36% to ₹2,442 crore from ₹1,793 crore in the quarter ended June 2023.
The company’s standalone revenue from operations in the second quarter of FY24 declined 1.25% to ₹31,822.62 crore from ₹32,227.47 crore in the first quarter.
GAIL’s earnings before interest, tax, depreciation and amortization (EBITDA) in Q2FY24 increased 43.5% to ₹3,492 crore from ₹2,433 crore, QoQ.
EBITDA margin during the quarter improved by 350 basis points (bps) to 11% from 7.5%, sequentially.
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Segment Results
Among its segments, standalone EBIT (earnings before interest and taxes) from the natural gas transmission segment increased to ₹1,290.65 crore in the September quarter from ₹1,024.61 crore in the June quarter.
LPG segment EBIT rose to ₹81.87 crore from ₹80.18 crore, QoQ.
During the quarter under review, GAIL India’s Natural Gas Marketing EBIT rose to ₹1,784.58 crore from ₹1,013.63 crore, sequentially.
Meanwhile, the company’s Petrochemicals segment’s EBIT loss in Q2FY24 narrowed to ₹160.01 crore from a loss of ₹300.91 crore in the previous quarter.
At 2:35 pm, GAIL (India) shares were trading 1.81% higher at ₹120.80 apiece on the BSE.
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Updated: 31 Oct 2023, 02:36 PM IST