State-owned gas utility GAIL (India) Ltd on Tuesday, October 31, reported a 56% rise in its July to September quarter net profit at ₹2,404.9 crore, compared to ₹1,537.07 crore profit in the same period a year back.
The was also higher than CNBC-TV18’s poll of ₹1,734 crore.
The company’s revenue from operation fell 17% to ₹31,822.6 crore from ₹38,490.89 crore in the corresponding quarter of last year, according to a stock exchange filing of the company. The number was lower than CNBC-TV18’s poll of ₹33,887 crore.
EBITDA (earnings before interest, tax, depreciation and amortization) for the quarter came in at ₹3,492 crore, up 42.5% as against CNBC-TV18’s poll of ₹2,450 crore, while margins expanded 380 basis points to 11%, compared to an estimate of 7.2%.
Shares of Gail (India) Ltd jumped 1.60% to trade at ₹120.60 apiece on the NSE post the earnings announcement. The scrip rallied 25% since the beginning of this year and has risen 32% in the last one year.