GAIL (India) Ltd on November 5 reported 10 percent increase in consolidated net profit at Rs 2,690 crore in the second quarter of financial year 2024-25 from the last year. Consolidated net profit of the country’s largest gas distributer was Rs 2,442 crore in the same period last year.
However, consolidated net profit declined 15.5 percent from Rs 3,183 crore in the quarter ended June 30.
Revenue from operations came in at Rs 33,981 crore in Q2, a marginal increase from Rs 33,049 crore a year ago.
In the quarter under review, EBIT (earnings before interest and taxes) from the natural gas transmission segment was at Rs 1,402 crore, compared to Rs 1,294 crore in the year-ago period.
The company’s petchem segment reported an EBIT of Rs 146 crore in the quarter, as against a loss of Rs 161 crore last year. GAIL's CMD Sandeep Kumar Gupta said the petrochemical segment is expected to be reasonably profitable in FY25.
Meanwhile, GAIL’s natural gas marketing segment EBIT fell to Rs 1,254 crore in Q2 from Rs 1,722 crore in the same period last year.
During the quarter, natural gas transmission volume stood at 130.63 MMSCMD (million metric standard cubic metre per day) while gas marketing volume came in at 96.60 MMSCMD. The company said LHC sales came in 253 TMT in Q2 as against 218 TMT in the last quarter, while polymer sales jumped to 226 TMT from 169 TMT in Q1FY25.
The company incurred capex of Rs 1,885 crore during the current quarter, mainly on pipelines, petrochemicals etc., taking cumulative capex upto H1FY25 to Rs 3,544 crore, GAIL said in a press release.
On BSE, shares of GAIL ended at Rs 196.40 a piece, up 0.15 percent from previous day’s close.
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