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GAIL India share price jumps 5% on strong Q4 earnings

Share price of GAIL India gained up to 5.04% to  Rs 104.25 intra day against previous close of Rs 99.25. Later, the stock closed 2% higher at Rs 101 on BSE

twitter-logoBusinessToday.In | June 24, 2020 | Updated 19:11 IST
GAIL India share price jumps 5% on strong Q4 earnings
The large cap share has gained 16.23% in a month but lost 16.27% since the beginning of this year. The stock has declined 34% in one year

GAIL India share rose over 5% intra day after the firm reported a 215.92 per cent on-year growth in consolidated net profit for Q4. Net profit rose to Rs 4,813.88 crore in Q4 against net profit of Rs 1,523.73 crore in the corresponding period in 2018-19.

Share price of GAIL India gained up to 5.04% to  Rs 104.25 intra day against previous close of Rs 99.25. Later, the stock closed 2% higher at Rs 101 on BSE.

Consolidated revenue fell 5.97 per cent YoY to Rs 17,938.08 crore in Q4FY20. The state-owned natural gas distributor received a tax credit of Rs 1,215.18 crore during the given quarter. In standalone terms, the company's net profit jumped 169 per cent on-year to Rs 3,018.20 crore in Q4.

The stock stands higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.  The large cap share has gained 16.23% in a month but lost 16.27% since the beginning of this year. The stock has declined 34% in one year.

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Market cap of the firm rose to Rs 45,710 crore.

The stock which was trading flat in morning trade rose to intra day high around 1:10 pm, when earnings for March quarter were announced. In FY20, net profit rose 45.2 per cent to Rs 9,514.64 crore against Rs 6,552.77 crore in FY19. Consolidated revenue of the company fell 5.05 per cent YoY to Rs 72,567.70 crore in Q4FY20, GAIL said.

Revenue from natural gas segment rose to Rs 1,554.2 crore in FY20 compared to FY19. The natural gas marketing segment also surged to Rs 71,211.96 crore. LPG and liquid hydrocarbons division reported a fall in revenue at Rs 4,233.71 crore. Petrochemicals revenue fell to Rs 5,432.13 crore.

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