GAIL Q3 Results: Profit Beats Estimates, Margin Expands
GAIL (India) Ltd.’s quarterly profit rose, beating estimates, and its operating margin expanded.
Net profit rose 17.5 percent quarter-on-quarter to Rs 1,250 crore in the three months ended December, India’s largest gas distributor said in an exchange filing. A consensus of analyst estimates compiled by BloombergQuint had pegged the bottom line at Rs 1,162 crore.
The company’s revenue, however, fell 1.5 percent to Rs 17,767.3 crore, compared with the Rs 18,766-crore forecast.
Earnings before interest, tax, depreciation, and amortisation rose 32.6 percent to Rs 2,072.4 crore, while operating margin expanded to 11.7 percent from 8.7 percent in the preceding quarter. Analysts had pegged the Ebitda margin at 9.9 percent.
Shares of GAIL fell as much as 3.1 percent compared with a 0.76 percent decline in the Nifty 50 Index. The stock has slumped 29 percent over the last 12 months against a 9.8 percent rise in the benchmark index.