GAIL Q2 Profit Up 10% to Rs 2,690 cr

New Delhi, Nov 5 (PTI) State-owned GAIL (India) Ltd on Tuesday reported 10 per cent rise in September quarter net profit after an increase in earnings from gas transmission business and turnaround in petrochemical business neutralised fall in marketing margin.

Consolidated net profit of Rs 2,689.67 crore in July-September FY25 compared with Rs 2,442.18 crore in the same period a year ago, according to a stock exchange filing by the company.

India's biggest natural gas transmission and marketing firm reported almost flat revenue from operations at Rs 33,981.33 crore.

Pre-tax earnings from gas transmission business was up 8 per cent to Rs 1,402.81 crore. The petchem business clocked an earning of Rs 146.19 crore as against a loss of Rs 160.94 crore in the year-ago period.

However, earnings from marketing business were down 27 per cent at Rs 1,253.64 crore.

Natural gas transmission volume stood at 13.63 million standard cubic metres per day in Q2 while gas marketing volume was 96.60 mmscmd, the firm said in a statement.

GAIL Chairman and Managing Director Sandeep Kumar Gupta said the petrochemical segment is expected to be reasonably profitable in FY2024-25.

The company logged a capex of Rs 1,885 crore during the quarter, mainly on pipeline and petrochemicals, taking cumulative capex up to September 30 to Rs 3,544 crore.