In Wednesday’s trading session, the shares of India’s largest natural gas company surged by 5.4 percent to hit a new 52-week high at Rs. 246.35, after reporting financial results for Q1 FY24-25 with a rise in the net profit by 28.6 percent QoQ and 77.5 percent YoY.
At 01:12 p.m., the shares of GAIL (India) Limited were trading in the green at Rs. 239.75, up by 2.6 percent, compared to its previous closing price of Rs. 233.65, with a market cap of Rs. 1.57 lakh crores.
What’s the News:
The fluctuations in the share prices were observed after the company announced the financial results for Q1 FY24-25, through the recent filings with the stock exchanges on Tuesday post-market hours.
The consolidated revenue from operations for Q1 FY24-25 stood at Rs. 34,822 crores, marking a 6 percent YoY rise from Rs. 32,848 crore in Q1 FY23-24, as well as a 6 percent growth quarter-on-quarter from Rs. 32,833 crore in Q4 FY23-24.
The net profit jumped by 77.5 percent YoY to Rs. 3,183.4 crore in Q1 FY24-25, as against Rs. 1,793 crore in Q1 FY23-24, and on a quarter-on-quarter basis, it grew by 28.6 percent from Rs. 2,474.3 crore in Q4 FY23-24.
On the other side, the standalone net profit increased by 25 percent to Rs. 2,724 crore in Q1 FY24-25 as against Rs. 2,177 crore in Q4 FY23-24 mainly on account of increased Gas Transmission volumes, increased domestic Natural Gas Marketing volume and improved Natural Gas marketing margins.
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The Chairman & Managing Director of GAIL said that, the company has incurred a capex of about Rs. 1,659 crores during the June quarter, mainly on Pipelines, Petrochemicals, Equity to JVs, etc. which is about 21 percent of the annual target of Rs. 8,044 crores.
He further stated that GAIL has advanced its Net Zero carbon target for scope-1 and scope-2 emissions to 2035 from earlier 2040.
Stock Performance
The shares of GAIL (India) Limited have delivered multibagger returns of nearly 101.6 percent in one year, and around 44.2 percent of positive returns year-to-date.
About the company:
GAIL (India) Limited has a diversified business portfolio and is engaged in the sourcing and trading of natural gas, manufacturing of LPG, Liquid hydrocarbons and Petrochemicals, the transmission of natural gas and LPG through pipelines, City Gas, etc.
The company is also engaged in the business of Oil and Gas Exploration and Production to increase access to gas supplies through equity and joint venture (JV) participations.
Written by Shivani Singh
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