GAIL - Petrochemical Steals The Show In Q3: IDBI Capital
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IDBI Capital Report
GAIL India Ltd.’s Q3 FY21 Ebitda was largely in line while profit after tax was above our forecast led by higher than expected other income.
Stellar performance by petrochemicals benefiting from highest-ever utilisation level at 114% was largely offset by third consecutive quarterly Ebitda loss at trading business.
Gas transmission business volume remained flattish YoY (up 4% QoQ) at 110.3 million metric standard cubic meter per day while liquid hydrocarbons business saw a marginal dip at its Ebitda level.
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