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Yes Securities Report
GAIL India Ltd. reported Q3 FY23, significantly below estimates, with operating profit at Rs 2.6 billion (down 94% YoY; down 85% QoQ), primarily on Rs 11 billion in inventory losses related to two unsold cargoes.
Adjusted for the same the operating profit stood at Rs 13.6 billion, which nonetheless, is still lower than our estimates of Rs 17.2 billion, due to operating losses in liquefied natural gas-liquid hydrocarbon segment.
GAIL continues to reel under the disruption of supply from Gazprom, impacting its gas trading and petrochemical segments. While GAIL is in negotiation with other suppliers to fulfill the gap of 8-9 metric million standard cubic metre per day, but at this moment any conclusive update on the same is pending.
GAIL has additionally filed for revision in tariff as per revised regulations and tariffs are likely to be updated by April 2023.
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More Research Reports On GAIL India's Q3 FY23 Results Reviews
Gas Price Volatility, LNG Supply Disruption Hurt Margins: Motilal Oswal
Gazprom Supply Disruption Continues To Hurt Earnings: ICICI Securities
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