GAIL (India) Ltd, the country's largest gas distributor, reported an almost 18% surge in quarterly profit on Monday, January 29, amid softening in liquefied natural gas (LNG) prices from last year. The state-owned gas company's standalone profit stood at ₹2,842.62 crore in the quarter ending December 31, from ₹2,404.89 crore in the previous September quarter.
The state-owned firm's profit figure was high than CNBC-TV18's poll of ₹2,302 crore.
GAIL's revenue from operations jumped nearly 8% to ₹34,253.52 crore, compared to ₹31,822.62 crore in the second quarter of this fiscal.
EBITDA or earnings before interest, taxes, depreciation and amortization stood at ₹3,822 crore as against CNBC-TV18 poll's of ₹3,315 crore. Margins, meanwhile, rose 180 basis points to 11% versus our poll of 9.4%.
The state-owned firm has declared an interim dividend of ₹5.50 per equity share amounting to ₹3,616.30 crore. The said dividend will be paid on Tuesday, February 6, 2024.
"The Board of Directors of the company in its meeting held today i.e. 29.01.2024, inter-alia, approved the Unaudited Financial Results (Standalone and Consolidated) of the company for the quarter and nine months ended 31.12.2023 and the payment of interim dividend for the financial year 2023-24 (₹5-5O per equity share) on the paid-up equity share capital of the company," it said.
Shares of the company rose nearly 4% to trade at ₹171.85 apiece on Monday after Q3 numbers.
First Published: Jan 29, 2024 3:19 PM IST
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