GAIL India Q3 result | Net profit rises 33% YoY to Rs 3,288 crore, sales up 20%

Market Outlook

The company’s revenue for the reported quarter jumped 20 percent on-year to Rs 25,775 crore reflecting the benefit of the rise in domestic administered gas prices in the second half of the current financial year.

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GAIL India on February 3 reported a 33 percent year-on-year rise in net profit at Rs 3,288 crore for the quarter ended December.

The company’s revenue for the reported quarter jumped 20 percent on-year to Rs 25,775 crore reflecting the benefit of the rise in domestic administered gas prices in the second half of the current financial year.

The company’s operating performance of the company matched the strength of its topline as operating profit grew 22.3 percent on-year to Rs 4,233 crore.

Similarly, the company’s operating margin expanded 140 basis points on a year-on-year basis to 16.4 percent reflecting the benefit of higher gas prices in the quarter.

The growth in the sales was led by the natural gas marketing segment where sales jumped 85.6 percent on-year to Rs 22,092 crore in the reported quarter.

The gas marketing segment also saw a turnaround in operating terms as profit before interest and tax came in at Rs 1,750 crore as against an operating loss of Rs 73.7 crore in the year-ago quarter.

The petrochemical segment also reported a 24 percent year-on-year growth in sales to Rs 2,400.5 crore. At the same time, the LPG segment reported sales of Rs 1,533 crore against Rs 878 crore a year ago.

Shares of GAIL India were up 1 percent at Rs 147.20 on the National Stock Exchange.