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GAIL Ltd.’s profit for the quarter ended June beat estimates.
Net profit rose 23.3 percent sequentially to Rs 1,259 crore in the April-June period, according to its exchange filing. That compares with Rs 1,164-crore consensus estimate of analysts tracked by Bloomberg.
Revenue of the state-owned entity jumped 12 percent from the previous quarter to Rs 17,298.6 crore. That’s higher than Rs 15,864 crore estimated.
The company’s operational performance also beat estimates. Earnings, before interest tax, depreciation and amortisation rose 32.4 percent from the preceding quarter to Rs 2,243.6 crore. That compares with the estimate of Rs 2,011 crore. The operating margin expanded 200 basis points to 13 percent in the June quarter.
- Profit generated from the petrochemicals business jumped over fivefold quarter-on-quarter to Rs 207.8 crore.
- Revenue from the natural gas segment rose 10 percent sequentially to Rs 1,311.4 crore, while that from the LPG segment fell 7 percent to Rs 141 crore.
Shares of GAIL fell 4.1 percent to Rs 360 apiece after the results’ announcement.
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