GAIL (India) gains on strong March quarter results
Published On: Thursday, June 25, 2020 | By: Team KnowMyStock
GAIL (India) jumped 5.5 per cent to Rs 106.90 on the BSE on Thursday, surging 8 per cent in the past two trading days after the company reported a 47 per cent year-on-year (y-o-y) growth in profit before tax (PBT) at Rs 2,556 crore for the quarter ended March 2020 (Q4FY20). Company has reported a consolidated net profit at Rs 4,813.88 crore for the quarter ended March 31. It had reported a net profit of Rs 1,523.73 crore in the corresponding period last year, an increase of Rs 3,018.2 crore from last year. Consolidated revenue of the company declined 5.97 per cent YoY to Rs 17,938.08 crore in Q4FY20. However, revenue from operations fell 5.4 per cent to Rs 17,753.12 crore compared to year-ago, hit by nationwide lockdown that began in late March. The company received a tax credit of Rs 1,215.18 crore during the quarter under review.With a net worth of Rs 41,853.99 crore, the debt-to-equity ratio of the company stood at 0.09x as of March 31.
“Improved profitability of gas transmission and gas trading segment was a key positive. The pick-up in demand, performance in the gas trading segment as well as product price improvement will be important in the near term, it said.
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