Maharatna Central Public Sector Enterprise, India’s leading natural gas company with diversified interests across the natural gas value chain jumped 5 percent in the day’s trade following the release of its Q3FY24 results with a jump in net profit by 703 percent YoY.
At 3:12 P.M the shares of Gail (India) Limited were trading at Rs. 171.90, up 4 percent from its previous day’s close price of Rs. 165.40 and its market capitalization is Rs. 1,13,058 Crores.
Its revenue from operations declined by 3.26 percent YoY from Rs. 35,939.96 Crores in Q3FY23 to Rs. 34,767.84 Crores in Q3FY24 and it grew 5.19 percent QoQ from Rs. 33,049.68 Crores in Q2FY24 to Rs. 34,767.84 Crores in Q3FY24.
Its Net Profit grew by 703.17 percent YoY from Rs. 397.59 Crores in Q3FY23 to Rs. 3,193.34 Crores in Q3FY24 and it grew 30.75 percent QoQ from Rs. 2,442.18 Crores in Q2FY24 to Rs. 3,193.34 Crores in Q3FY24.
In addition to this, it has declared an interim dividend of Rs. 5.50 per equity share. It has fixed February 6, 2024, as the record date to determine the eligible shareholders of the company to receive the dividend.
Gail (India) Limited is a Maharatna Central Public Sector Enterprise, it is India’s leading natural gas company with diversified interests across the natural gas value chain of trading, transmission, LPG production &, transmission, LNG re-gasification, petrochemicals and many more.
It has reported a return on equity (ROE) of 8.69 percent and a return on capital employed (ROCE) of 9.76 percent, it is making decent returns on its equity and capital employed.
Written by: Bharath K.S
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