GAIL India Q4 Review - Improving Commodity Trend Augurs Well: Prabhudas Lilladher
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Prabhudas Lilladher Report
GAIL India Ltd. reported Q4 results in-line with estimates with Ebitda at Rs 25.6 billion (our estimate: Rs 26.8 billion; up 34% QoQ) led by higher liquefied natural gas realisations and record petrochemical profits.
Profit after tax was at Rs 19.1 billion (our estimate Rs 19.1 billion; up 28% QoQ).
Petrochemicals reported record profits in Q4 on the back of sharp spike in global commodity prices due to logistics disruptions.
For FY21, Ebitda/profit after tax was at Rs 64.5 billion (down 23%YoY) and Rs 47.7 billion (down 27%YoY) due to loss in gas trading business and volume loss in Q1.
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