GAIL share price: Shares of GAIL (India) surged almost 7 per cent in morning trade on BSE on Wednesday, November 6, a day after the company announced its September quarter scorecard. GAIL share price opened at ₹200.05 against its previous close of ₹196.40 and jumped 6.6 per cent to the level of ₹209.40. Around 9:40 am, the stock traded 5.63 per cent higher at ₹207.45 apiece.
GAIL (India) on Tuesday, November 5, reported a 10 per cent year-on-year (YoY) rise in September quarter (Q2FY25) consolidated net profit to ₹2,689.67 crore after an increase in earnings from gas transmission business and turnaround in petrochemical business neutralised fall in marketing margin. In the same quarter last year, the company earned a profit of ₹2,442.18 crore.
Revenue from operations for Q2FY25 rose 2.8 per cent YoY to ₹33,981.33 crore against ₹33,049.68 crore in the corresponding quarter last year.
Pre-tax earnings from gas transmission business was up 8 per cent to ₹1,402.81 crore. The petchem business clocked an earning of ₹146.19 crore as against a loss of ₹160.94 crore in the year-ago period.
However, earnings from marketing business were down 27 per cent at ₹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.
The stock has seen a healthy gain of about 59 per cent over the last year. It hit a 52-week high of ₹246.35 on July 31 this year and a 52-week low of ₹122.90 on November 22 last year on the BSE.
On the monthly scale, the stock has gained about 4 per cent in November after a 17 per cent decline in October amid a broader market selloff.
Read all market-related news here
Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.
