GAIL spurts up

GAIL, on a standalone basis posted a 4.5% (YoY) rise in revenue from operations at Rs.33,692 crore. PBT almost doubled, up 93% at Rs.3642 crore while PAT came in at Rs.2724 crore, up 93%.

QoQ, PAT increased by 25% mainly on account of increased Gas Transmission volumes, increased domestic Natural Gas Marketing volume and improved Natural Gas marketing margins. On Consolidated basis, Revenue from Operations stood at Rs 34,822 crore, up 6% while PAT rose 29% at Rs.3183 crore.  

Company has incurred a Capex of about Rs 1,659 crore during the current quarter, mainly on Pipelines, Petrochemicals, Equity to JVs, etc. which is about 21% of annual target of Rs 8,044 crore. It has advanced its Net Zero carbon target for scope-1 and scope-2 emissions to 2035 from earlier 2040.

With volumes almost doubling up, the stock today hit a life-time high at Rs.246.35, up 5.5% and is currently trading at Rs.242 levels.