Q1FY21 results: GAIL (India) net profit plunges 57.24 per cent YoY

GAIL (India) Limited, largest state-owned natural gas processing and distribution company in India, announced its quarterly results on August 13, 2020. The company posted a consolidated net profit of Rs 642.97 crore for Q1FY21, which declined by 57.24 per cent YoY, as compared to Q1FY20 when it reported Rs 1,503.67 crore.                                                                                                                                                

The consolidated net sales reported in Q1FY21 came in at Rs 12,180.62 crore, which declined by 34.09 per cent YoY from Rs 18,481.56 crore in Q1FY20. At EBITDA level, the company stood at Rs 693.73 crore in Q1FY21 that decreased by 70.57 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 2,357.61 crore.                                                                                                                                                 

EBITDA margin as of Q1FY21 was at 5.7 per cent that declined by 7.06 per cent YoY. The net profit margin in Q1FY21 came in at 5.28 per cent, which declined by 2.86 per cent YoY. The net profit margin in Q1FY20 was at 8.14 per cent.         

The financial performance was severely impacted due to nationwide lockdown during the earlier part of the quarter coupled with lower price realization in petrochemicals, liquid hydrocarbons and natural gas.

The share closed 0.56 per cent down at Rs 97.5 in today’s session on BSE.