GAIL shares edged higher in mid-morning trading a day after the Maharatna company posted a jump in net profit in the March quarter. Gas Authority of India reported a 28 per cent jump in net profit to Rs 1,908 crore in the fourth quarter ended March 2021 compared to Rs 1,487 crore in the preceding quarter. At 11:50 am, GAIL shares were trading at Rs 163.20, higher by 0.62 per cent, on the BSE.
The company’s revenues during the quarter under consideration fell 0.1 per cent to Rs 15,449 crore from 15,454.3 crore in the December 2020 quarter.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 28.4 per cent to Rs 2,465 crore from Rs 1,919.5 crore and EBITDA margin improved to 16 per cent from 12.4 percent on a quarter-on-quarter basis.
The BSE Sensex was trading at 52,205.01, higher by 0.54 per cent and the NSE Nifty was at 15,718.15, up 0.54 per cent at the time.