It reported a 33 percent jump in December quarter net profit as it sold more natural gas and transported higher volumes.
Brokerages remain positive on GAIL, especially after its results for December quarter. HSBC thinks that the stock is attractive after recent correction.
It reported a 33 percent jump in December quarter net profit as it sold more natural gas and transported higher volumes.
Net profit in October-December 2018 at Rs 1,681.23 crore, or Rs 7.46 a share, was higher than the earning of Rs 1,262.22 crore, or Rs 5.60 per share, in the corresponding period of the previous fiscal, the company said in a statement here.
The profit was higher "mainly due to better performance by natural gas marketing, natural gas transmission, liquid hydrocarbon (LHC) and LPG transmission segments", it said.
Here is a gist of what brokerages have said about the results.
Brokerage: HSBC | Rating: Buy | Target: Rs 487
HSBC believes that after the recent correction, the stock now looks attractive. Regulatory clarity & improving gas supplies are two key catalysts for the company. The company is its top pick in India Oil & Gas Coverage.
Brokerage: Citi | Rating: Neutral | Target: Raised to Rs 370 from Rs 365
Citi said that gas trading surprised positively, while transmission was slightly ahead. It prefers IGL, GSPL & Petronet LNG in the gas space.
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