GAIL India Q2 results: Net profit rises 56%; revenue slips to Rs 31,822 cr

GAIL (India) Ltd reported a 56% rise in standalone profit for the quarter ended September 2023 on Tuesday. Net profit rose to Rs 2405 crore in Q2 against profit of Rs 1537.07 crore in the September 2022 quarter. However, GAIL's total revenue fell 17.32% to Rs 31,822.62 crore in Q2 against Rs 38490.89 crore in the corresponding period of the preceding fiscal.

Profit before tax climbed 67 percent to Rs 3130.10 crore in the second quarter of this fiscal over Rs 1875.91 crore in the corresponding period of the previous fiscal.

Earnings per share of GAIL rose to Rs 3.66 in Q2 of this fiscal against Rs 2.34 in the September 2022 quarter.

EBITDA (earnings before interest, tax, depreciation and amortization) zoomed 42.5% in the September quarter at Rs 3,492 crore. EBITDA margins expanded 380 basis points to 11%.

Total expenses slipped 22% to Rs 29,253.46 crore in the last quarter against Rs 37413.82 crore in the September 2022 quarter.

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