GAIL Q1: Maharatna Gas Major’s Net Profit Rises, Topline Soars 116% YoY

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GAIL Q1: Maharatna Gas Major’s Net Profit Rises, Topline Soars 116% YoY
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The country’s largest natural gas company GAIL (NS: GAIL ) released its earnings results for the June 2022 quarter on Thursday, reporting an over 50% rise in net profit on a YoY basis.

The Maharatna company’s consolidated net profit jumped 51% YoY to Rs 3,250.95 crore during the Apr-Jun quarter, while sliding 6.4% on a sequential basis.

The rise in bottomline was led by bumper earnings from natural gas marketing.

The gas major’s revenue from operations rallied 116% to Rs 37,572 crore in the June quarter, compared to Rs 17,387 crore in the year-ago period.

Its turnover jumped 114.85% to Rs 38,033.3 crore on a YoY basis, while pre-tax profit from natural gas marketing soared 415.3% YoY to Rs 2,317.9 crore in the quarter under review and 17.3% sequentially.

The margin on gas marketing made up for a 12.5% decline in earnings from the gas transportation business and a 74% drop in petrochemicals earnings.

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