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Informist, Thursday, Jan. 30, 2025

--GAIL Oct-Dec net profit INR 38.67 bln vs INR 28.43 bln year ago 

--Analysts saw GAIL Oct-Dec net profit INR 23.98 bln 

--GAIL Oct-Dec net profit INR 38.67 bln vs INR 28.43 bln year ago 

--GAIL Oct-Dec revenue INR 349.58 bln vs INR 342.54 bln year ago 

--GAIL to pay INR 6.50 per share interim dividend 

--GAIL Apr-Dec net profit INR 92.63 bln vs INR 66.60 bln year ago 

--GAIL Apr-Dec revenue INR 1.016 tln vs INR 983.04 bln year ago 

--GAIL Oct-Dec natural gas marketing sales INR 306.25 bln vs INR 301.48 bln

--GAIL Oct-Dec petrochemical sales INR 20.70 bln vs INR 20.50 bln yr ago

By Sunil Raghu and Steffy Maria Paul

MUMBAI – GAIL (India) Ltd.'s net profit for the December quarter rose 36% on year due to a one-time gain of INR 24.40 billion on account of settlement of litigation with one of its liquefied natural gas suppliers. The company reported a net profit of INR 38.67 billion for the latest quarter, way above analysts' estimate of INR 23.98 billion. However, without this gain, the company's net profit before tax for the quarter contracted 30% to INR 25.89 billion, closer to the Street's view of net profit for the quarter.

The company's top line for the quarter was INR 349.58 billion, up 2% on year. The company posted an on-year growth in revenue for the third consecutive quarter after recording an on-year decline for four straight quarters since the June quarter of 2023. The company's top line rose 6% sequentially. In the September quarter, the company had reported a net profit of INR 26.72 billion on revenues of INR 329.12 billion.

For Apr-Dec, GAIL reported a net profit of INR 92.63 billion, up 39% from INR 66.60 billion a year ago. Revenue for the nine months rose 3% to INR 1.016 trillion from INR 983.04 billion. GAIL's other income for the quarter fell almost 8% on year to INR 7.50 billion.

 
The cost of materials consumed during the quarter was INR 19.86 billion, up more than 9% on year. The purchase of stock-in-trade, which made up 84% of the company's expenses, rose 12% on year to INR 280.24 billion. The depreciation and amortisation expenses rose 6% on year to INR 8.32 billion. The total expenditure for the quarter was INR 330.98 billion, up almost 6% on year. 

Revenue from marketing natural gas during the December quarter was INR 306.25 billion, up slightly from INR 301.48 billion a year ago, and up 6.5% sequentially. The revenue from natural gas transmission services was INR 27.55 billion, while that from liquefied petroleum gas transmission services was INR 2.46 billion. Revenue from the LPG and liquid hydrocarbons segment was INR 15.61 billion, up 20% from a year ago. The petrochemicals segment posted revenue of INR 20.70 billion for the December quarter, up slightly from INR 20.50 billion a year ago. The company declared interim dividend of INR 6.50 per share.

The average natural gas transmission volume for the December quarter was 125.93 million standard cubic metres per day, lower than the 130.63 mscmd reported in the previous quarter. The gas marketing volume was 103.46 mscmd in Oct-Dec, up from 96.60 mscmd in the previous quarter. The liquid hydrocarbon and polymer sales were 282,000 tonnes and 221,000 tonnes, respectively, for the latest quarter. On Thursday, shares of the company closed at INR 167.11 on the National Stock Exchange, up 1.1%.  End

Edited by Avishek Dutta

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