GAIL's Profit Soars Amid Petrochemical Turnaround

State-owned GAIL (India) Ltd posted a 10% increase in net profit for the September quarter, driven by improved gas transmission and a turnaround in the petrochemical segment. Despite a drop in marketing margins, the firm recorded a net profit of Rs 2,689.67 crore as compared to Rs 2,442.18 crore the previous year.

GAIL (India) Ltd, a state-owned enterprise, reported a 10% rise in net profit for the quarter ending September, thanks to strong performances in gas transmission and a notable turnaround in its petrochemical business, which outweighed a downturn in marketing margins.

The company's consolidated net profit stood at Rs 2,689.67 crore for Q2 FY25, an increase from Rs 2,442.18 crore in the same period last year, as per filings with the stock exchange. Operating revenue remained largely flat at Rs 33,981.33 crore.

Pre-tax earnings from the gas transmission sector increased by 8% to Rs 1,402.81 crore, while the petrochemical division reported earnings of Rs 146.19 crore, reversing a prior year loss of Rs 160.94 crore. Marketing earnings dipped by 27% to Rs 1,253.64 crore. The company also completed a quarter capex of Rs 1,885 crore, mainly on pipeline and petrochemicals, bringing the cumulative capex to Rs 3,544 crore by the end of September.

(With inputs from agencies.)