GAIL Q1 net profit jumps 77% on higher gas marketing margin

GAIL (India) Ltd, the nation's largest gas transportation and distribution firm, on Tuesday reported a 77.5% jump in its June quarter net profit after earnings from the gas marketing business doubled.

Consolidated net profit of ₹3,183.35 crore in April-June was higher than ₹1,792.99 crore earnings in the same period of the year, according to the stock exchange filing of the company.

While earnings from the gas transportation business rose 40%, natural gas marketing margins doubled.

Pre-tax earnings from natural gas transmission rose to ₹1,446.87 crore from ₹1,028.33 crore in April-June 2023, and natural gas marketing earnings soared to ₹2,036.13 crore from ₹1,045.87 crore.

Revenue from operations rose to ₹33,692 crore in Q1 FY-25 as against ₹32,227 crore in Q1 FY-24.

Later a company statement quoted Sandeep Kumar Gupta, Chairman & Managing Director, GAIL, as saying that the company has incurred a capex of about ₹1,659 crore during the current quarter, mainly on pipelines, petrochemicals and equity to joint ventures, which is about 21% of annual target of ₹8,044 crore.

He further stated that GAIL has advanced its net zero carbon target for scope-1 and scope-2 emissions to 2035 from earlier 2040.