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GAIL India profit grows 87% to Rs 2,863 crore in July-Sept quarter

GAIL India profit grows 87% to Rs 2,863 crore in July-Sept quarter

The company's revenue from operations for Q2 FY22 was Rs 21,511 crore vs Rs 17,383.9 crore in Q2 FY21.

GAIL India's EBITDA stood at Rs 3,475 crore in Q2 FY22 as compared to Rs 2,411.3 crore in Q2 FY21. Photo: Reuters GAIL India's EBITDA stood at Rs 3,475 crore in Q2 FY22 as compared to Rs 2,411.3 crore in Q2 FY21. Photo: Reuters

GAIL India has reported Rs 2,863 crore profit in the July-September quarter of the fiscal year 2021-22. This is over 87 per cent rise in profit as compared to Rs 1,530 crore in the previous quarter of this fiscal year. The company's revenue from operations for Q2 FY22 was Rs 21,511 crore vs Rs 17,383.9 crore in Q2 FY21.

The EBITDA stood at Rs 3,475 crore in Q2 FY22 as compared to Rs 2,411.3 crore in Q2 FY21. The state-owned company's margin was recorded at 16.2 per cent in the said quarter, which is a growth of 230 bps over 13.9 per cent margin recorded in Q2 FY21.

The company's expenses grew to Rs 18,606.99 crore during the said quarter, recording a significant growth from expenses worth Rs 12,818.04 crore in Q2 FY21. The total tax expense was recorded at Rs 819.35 crore in Q2 FY22 vs Rs 310 crore in Q2 FY21.

As of Q2 FY22, GAIL India's non-core assets stood at Rs 66,951 crore vs Rs 63,282.26 crore as of March 2021. The current assets are valued at Rs 13,849.8 crore as compared to Rs 9,653.1 core. The total non-current liabilities as of September quarter stood at Rs 15,610.12 crore vs Rs 10,841.58 crore in the March quarter.

The GAIL India stock is today trading at Rs 150.20, Rs 2.75 or 1.87 per cent up, as compared to the previous session close of Rs 147.45 on the NSE.

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Published on: Oct 29, 2021, 2:09 PM IST
Posted by: Manoj Sharma, Oct 29, 2021, 2:08 PM IST