Strong performance in natural gas marketing and transmission drove standalone earnings up to Rs 4,650 crore, while consolidated net profit surged 139.3% to Rs 4,719.66 crore. Operational growth was further supported by narrowed petrochemical losses and an increase in liquid hydrocarbon earnings, even as consolidated EBITDA margins contracted by 240 basis points to 14%. In addition to the earnings recovery, the board approved an initial public offering for GAIL Gas Ltd alongside a major internal asset transfer.
Key points
GAIL's board gave in-principle approval to dilute up to 25% of its equity holding in GAIL…: GAIL's board gave in-principle approval to dilute up to 25% of its equity holding in GAIL Gas Ltd via an IPO.
Six city gas distribution areas will be transferred to GAIL Gas through a slump sale effe…: Six city gas distribution areas will be transferred to GAIL Gas through a slump sale effective January 1, 2027.
Consolidated EBITDA reached Rs 6,412 crore, although the operating margin slipped by 240…: Consolidated EBITDA reached Rs 6,412 crore, although the operating margin slipped by 240 basis points to 14%.
Sources checked by our analysis pipeline: 1
According to a filing with the exchange, the company had a net profit of Rs 4,292 crore in the corresponding quarter of the previous fiscal. The revenue from operations rose to Rs 38,953 crore in Q2FY26.
The profit after tax (PAT) stood at Rs 8,943 crore in H1 FY27 compared to Rs 4,104 crore in the corresponding period of the previous year.
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The company's earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 6,412 crore, compared with Rs 6,377 crore in the year-ago quarter, registering a marginal increase of 0.5%. However, EBITDA margin contracted to 14% in Q2FY27 from 16.4% in Q2FY26, a decline of 240 basis points (bps).
Operating profit from GAIL's natural gas marketing business jumped two-and-a-half times to Rs 3,284 crore in the September quarter from Rs 1,304 crore a year earlier.
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