GAIL (India) Ltd. shares gained over 3% intraday after the state-run gas utility reported a sharp sequential recovery in earnings for the June quarter, driven by a significant improvement in operating performance.
The company posted a consolidated net profit of Rs 4,292 crore, more than three times higher than Rs 1,262 crore reported in the March quarter. Revenue rose 12% sequentially to Rs 38,953 crore from Rs 34,773 crore.
Operating performance strengthened considerably during the quarter. EBITDA surged to Rs 6,348 crore from Rs 1,129 crore in the preceding quarter, while the EBITDA margin expanded to 16.3% from 3.2%, indicating a sharp improvement in profitability.
Following the results, GAIL shares rose as much as 3.1% intraday to Rs 179.44, their day's high, before trading near Rs 179.1. The stock had closed at Rs 173.64 in the previous session.
GAIL (India) Q1 Results - QoQ
- Net profit at Rs 4,292 crore vs Rs 1,262 crore QoQ
- Revenue up 12% at Rs 38,953 crore vs Rs 34,773 crore QoQ
- EBITDA at Rs 6,348 crore vs Rs 1,129 crore QoQ
- EBITDA margin at 16.3% vs 3.2% QoQ
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