GAIL Soars 5% Following Impressive Q2 Earnings

GAIL’s share price rose by 5% after the company reported a significant 70% increase in its standalone net profit for Q2 FY24, reaching ₹2,405 crore. Despite a minor dip in revenue, GAIL showed strong performance across segments, with an improvement in EBITDA margins and natural gas transmission earnings.

Net Profit: GAIL reported a 10% year-on-year increase in net profit to ₹2,689.67 crore.
Revenue: The company’s revenue from operations rose marginally to ₹33,981.33 crore.
Strong Performance in Gas Transmission: The gas transmission segment witnessed an 8% increase in pre-tax earnings, contributing significantly to the overall performance.