Mumbai: State-run GAIL reported a consolidated net profit of Rs 3,183 crore for the quarter ending June 2024, up 78% from the Rs 1,793 crore recorded in the same quarter the previous year, media reports said.
The company's revenue from operations rose 6% year-on-year to Rs 34,822 crore, compared to Rs 32,849 crore during the same period last year, reported Economic Times.
On a sequential basis, GAIL's profit after tax increased by 29% to Rs 3,183 crore from Rs 2,469 crore reported in the previous March quarter. Revenue from operations also grew by 6% compared to the fourth quarter of the last fiscal year.
The company reported an EBITDA of Rs 4,790 crore in the reported quarter, an 80% increase from Rs 2,660 crore in the same quarter the previous year, with EBITDA margins improving significantly to 13.8%.
Total expenses during the quarter saw a marginal increase to Rs 31,393 crore, up from Rs 31,095 crore in the corresponding period last year.
In terms of segment performance, revenue from natural gas rose to Rs 2,864 crore in the first quarter, compared to Rs 2,529 crore in the same period last year.
The LPG segment reported revenues of Rs 180 crore. Revenue from natural gas marketing increased to Rs 33,119 crore in the April-June 2024 period, up from Rs 31,954 crore in the corresponding period the previous year.
On Tuesday, GAIL's shares were trading 0.7% higher at Rs 233.49 on the NSE.
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