GAIL India Q2 Results: Net profit rises 10% to ₹2,689.67 crore, revenue up marginally
The state-owned GAIL India announced a 10 per cent rise in net profits for the second quarter to ₹2,689.67 crore, compared year-on-year. The company also reporter marginal revenue rise for the July to September quarter, reported PTI.
New Delhi, Nov 5 (PTI) State-owned GAIL (India) Ltd on Tuesday reported 10 per cent rise in September quarter net profit after an increase in earnings from gas transmission business and turnaround in petrochemical business neutralised fall in marketing margin.
Consolidated net profit of ₹2,689.67 crore in July-September FY25 compared with ₹2,442.18 crore in the same period a year ago, according to a stock exchange filing by the company.
India's biggest natural gas transmission and marketing firm reported almost flat revenue from operations at ₹33,981.33 crore.
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Pre-tax earnings from gas transmission business was up 8 per cent to ₹1,402.81 crore. The petchem business clocked an earning of ₹146.19 crore as against a loss of ₹160.94 crore in the year-ago period.
However, earnings from marketing business were down 27 per cent at ₹1,253.64 crore.
Natural gas transmission volume stood at 13.63 million standard cubic metres per day in Q2 while gas marketing volume was 96.60 mmscmd, the firm said in a statement.
GAIL Chairman and Managing Director Sandeep Kumar Gupta said the petrochemical segment is expected to be reasonably profitable in FY2024-25.
The company logged a capex of ₹1,885 crore during the quarter, mainly on pipeline and petrochemicals, taking cumulative capex up to September 30 to ₹3,544 crore.
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Business NewsCompaniesCompany ResultsGAIL India Q2 Results: Net profit rises 10% to ₹2,689.67 crore, revenue up marginally
First Published:5 Nov 2024, 08:57 PM IST
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