GAIL India shares jump 7% post Q2 results; check Maharatna company's headline numbers

2 min read | Updated on November 06, 2024, 11:22 IST

SUMMARY

GAIL share price: The state-owned energy corporation with primary interests in the trade, transmission, and production distribution of natural gas on Tuesday reported a 10% rise in the September quarter net profit to ₹2,689.67 crore compared to ₹2,442.18 crore logged in the same period a year ago.

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GAIL's pre-tax earnings from the gas transmission business were up 8% to ₹1,402.81 crore

GAIL India share price: Shares of Gas Authority of India (GAIL) zoomed as much as 6.89% to ₹209.95 apiece on the BSE on Wednesday, November 6, a day after the company reported financial results for the quarter ended September 30, 2024 (Q2 FY25).

The state-owned energy corporation with primary interests in the trade, transmission, and production distribution of natural gas on Tuesday reported a 10% rise in the September quarter net profit to ₹2,689.67 crore compared to ₹2,442.18 crore logged in the same period a year ago.

The PSU reported profit after an increase in earnings from the gas transmission business and a turnaround in the petrochemical business neutralised fall in marketing margin.

However, India's biggest natural gas transmission and marketing firm reported almost flat revenue from operations at ₹33,981.33 crore.

Pre-tax earnings from the gas transmission business were up 8% to ₹1,402.81 crore. The petchem business clocked earnings 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% at ₹1,253.64 crore.

In its earnings release, GAIL said that the natural gas transmission volume stood at 130.63 MMSCMD in Q2 FY-25 and gas marketing volume was 96.60 MMSCMD in Q2 FY’25. The LHC & Polymer sale stood at 253 thousand metric tonnes (TMT) and 226 TMT, respectively, in Q2 FY-25 as compared to 218 TMT and 169 TMT, respectively, in Q1 FY-25.

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MMSCMD stands for million metric standard cubic meters per day. It is a unit of measurement for gases.

The company has incurred a capex of ₹1,885 crore during the current quarter, mainly on pipelines, petrochemicals, etc., taking cumulative capex up to H1 FY25 to ₹3,544 crore.

GAIL is India's leading natural gas company that integrates all aspects of the natural gas value chain. GAIL is a Maharatna public sector undertaking (PSU). It is one of the highest statuses conferred to any PSU in India.

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