GAIL India share price jumped over 3% intraday on June 24 after the company declared its March quarters results.
The company reported a whopping 168.9% YoY growth in standalone profit for the quarter ended March 2020 driven by tax write-back and strong operating performance.
The stock price has jumped almost 30% in the last 3 months and was quoting at Rs 101.00, up Rs 1.75, or 1.76% at 14:13 hours. It has touched an intraday high of Rs 104.25 and an intraday low of Rs 98.55. It was trading with volumes of 1,871,408 shares, compared to its five day average of 1,309,784 shares, an increase of 42.88%.
Profit during the quarter increased to Rs 3,018.2 crore, from Rs 1,122.23 crore in same period last year.
However, revenue from operations in Q4 fell 5.4% to Rs 17,753.12 crore compared to year-ago, impacted by nationwide lockdown for more than a week towards the end of March 2020.
Its operating performance was very strong as earnings before interest, tax, depreciation, and amortization (EBITDA) for the March quarter surged 47% to Rs 2,475.36 crore and margin expanded 497 basis points to 13.94% YoY.
Its other income fell significantly to Rs 513.22 crore during the quarter, compared to Rs 865.88 crore reported in Q4FY19.
Natural gas segment revenue increased by 6.1% YoY to Rs 1,554.2 crore and its earnings before interest & tax (EBIT) rose 15.4% to Rs 892.03 crore, said the company in its BSE filing.
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