GAIL Q2 results: Net profit falls 8.5% YoY to Rs 1,068 crore; revenue drops 24%

GAIL Q2 results: Net profit falls 8.5% YoY to Rs 1,068 crore; revenue drops 24%

The natural gas processing and distribution company said its revenue from marketing of natural gas dropped to 12,330.68 crore, from 16,857.98 crore in the same quarter a year ago

State-run GAIL (India) on Tuesday reported a net profit of Rs 1,068.16 crore for the quarter ended September, down 8.5 per cent from Rs 1,167.58 crore a year ago.

Its revenue from operations dropped by 24.3 per cent to Rs 13,809.86 crore, from 18,249.90 crore a year before.

The natural gas processing and distribution company said its revenue from marketing of natural gas dropped to 12,330.68 crore, from 16,857.98 crore in the same quarter a year ago. The company said its board also approved to borrow a total of up to Rs 10,000 crore in one or more tranches from time to time, including the money already borrowed. Such fund raising could be through rupee term loan, foreign currency term loan/bond , note, external commercial borrowing or issue of rupee denominated debentures or bonds.

At 2:22 pm, Gail (India) shares were up 2.43 per cent at Rs 88.60, while the benchmark Sensex was up 1.19 per cent at 43,106.38 points.

https://energy.economictimes.indiatimes.com/news/oil-and-gas/gail-q2-results-net-profit-falls-8-5-yoy-to-rs-1068-crore-revenue-drops-24/79150356

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