InvestorQ : How did you see the quarterly results of GAIL India for the Dec-21 quarter?
swati Bakhda made post

How did you see the quarterly results of GAIL India for the Dec-21 quarter?

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Sam Eswaran answered.
3 months ago
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Gail reported strong growth in the top line. For the Dec-21 quarter, sales were up 66.99% at Rs.26,176 crore. GAIL reported flat revenues from gas transmission services at R.s1,673 crore but revenues from LPG transmission were marginally lower. However, natural gas marketing revenues surged 68.8% at Rs.25,118 crore on the back of strong natural gas prices. Revenues from the city gas business also doubled for GAIL on a yoy basis.

GAIL India Ltd

Rs in Crore

Dec-21

Dec-20

YOY

Sep-21

QOQ

Total Income (Rs cr)

₹ 26,176

₹ 15,675

66.99%

₹ 21,788

20.14%

EBITDA (Rs cr)

₹ 4,019

₹ 1,678

139.47%

₹ 3,018

33.18%

Net Profit (Rs cr)

₹ 3,781

₹ 1,884

100.72%

₹ 2,883

31.13%

Diluted EPS (Rs)

₹ 8.51

₹ 4.18

₹ 6.49

EBITDA Margin

15.35%

10.71%

13.85%

Net Margins

14.44%

12.02%

13.23%

Let us look at operating performance of GAIL. For the Dec-21 quarter, operating profits were up 139.5% at Rs.4,019 crore. The big boost came from natural gas marketing vertical where EBIT turned around from Rs-158cr to a positive EBIT of Rs.1,966 crore. EBIT growth also came from the LPG and liquid hydrocarbons business where EBIT tripled to Rs.855 crore. Operating margins improved handsomely from 10.71% in Dec-20 to 15.35% in Dec-21 Q3.

In terms of the bottom line for the Dec-21 quarter, net profits were up 100.7% yoy at Rs.3,781 crore on robust operating performance transmitted to the net profits. Much of the profit growth during the quarter came as a result of a sharp spike in prices of natural gas. PAT margins improved from 12.02% in Dec-20 quarter to 14.44% in the Dec-21 quarter. The PAT margins were also higher on a sequential basis by 121 bps. Overall, GAIL reported impressive numbers for Q3.

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