GAIL Q2 Results: Net profit and revenue beat expectations; margin narrows sequentially

GAIL (India) Ltd. reported a strong set of numbers for the September quarter, with profit and revenue coming in ahead of CNBC-TV18 estimates.

Net profit rose 17.6% sequentially to ₹2,217 crore, compared with ₹1,886 crore in the previous quarter, surpassing the CNBC-TV18 poll estimate of ₹2,063 crore.

Revenue stood at ₹35,008 crore, slightly higher than ₹34,769 crore in Q1 and above expectations of ₹34,429 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter came in at ₹3,191 crore, marginally below the previous quarter's ₹3,334 crore but ahead of the estimated ₹3,071 crore.

Operating margin stood at 9.1%, compared with 9.6% in the prior quarter, but higher than Street's estimate of 8.2%.

Following the earnings announcement, shares of Gail (India) Ltd. are trading flat at

₹

183.57. On a year-to-date basis, the stock has fallen 4%.