GAIL India Ltd.'s first-quarter profit declined sequentially in the second quarter of the financial year but met analysts' estimates.
The company's net profit fell 16% quarter-on-quarter to Rs 2,690 crore in the quarter ended September, according to an exchange filing on Tuesday. That compares with Rs 2,616 crore, the consensus analysts' estimate tracked by Bloomberg.
GAIL Q2 FY25 Earnings Highlights (Consolidated QoQ)
Revenue down 2.4% to Rs 33,889 crore vs Rs 34,738 crore (Bloomberg estimate: Rs 33,936 crore).
Ebitda down 18% to Rs 3,937 crore vs Rs 4,790 crore (Estimate: Rs 4,018 crore)
Margin narrows 220 basis points to 11.6% vs 13.8% (Estimate: 11.8%)
Net profit down 16% to Rs 2,690 crore vs Rs 3,183 crore (Estimate: Rs 2,616 crore)
On a year-on-year basis, GAIL's consolidated revenue remained flat with a 2.81% growth. The company's earnings before interest, taxes, depreciation and amortisation, and profit both rose 10% on an annual basis.
Volumes
The natural gas transmission volume stood at 130.6 million standard cubic metres per day in the second quarter, while gas marketing volume stood at 96.6 mscmpd.
Capex
The company incurred a capital expenditure of Rs 1,885 crore, which was mainly allocated to pipelines and petrochemicals. During the first half of the fiscal, the cumulative capex stands at Rs 3,544 crore.
Shares of GAIL closed 0.11% higher at Rs 196.41 apiece on the NSE, compared to a 0.91% advance in the benchmark Nifty.
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