Gail India recorded a standalone net profit of Rs 3,288 crore for the quarter ended December 31, 2021, up 14.8 percent from Rs 2,863 crore in the previous quarter of the fiscal, the company said on Thursday.

The state-run gas company’s profit, as well as revenue at Rs 25,769.8 crore for the October to December period, beat Street estimates. A CNBC-TV18 poll of analysts had predicted the firm to post a profit of Rs 2,473 crore and revenue of Rs 21,511 crore for the quarter. The firm’s revenue was up 19.8 percent sequentially.

Segment-wise, the revenue from natural gas rose to Rs 1.672.72, up 1.6 percent compared to the September 2021 quarter. Petrochemicals revenue at Rs 2,400.50 was 5 percent higher than that in the previous quarter.

The growth in revenue was led by the natural gas marketing segment where sales jumped 23.5 percent sequentially Rs 22,092 crore in the quarter under review.

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Gail India’s standalone EBITDA for the third quarter of the fiscal stood at Rs 4,228.2 crore, which was also higher than the Street estimates of Rs 21,511 crore. The EBITDA margin was 16.4 percent against the analysts’ projection of 15 percent.

The company incurred a tax expense of Rs 1,020.4 crore whereas its other incomes stood at Rs 651.8 crore, lower than analysts’ expectation of Rs 774 crore.

Following the Q3 earnings announcement, the shares of Gail India ended the session 0.89 percent higher at Rs 147 on BSE.

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(Edited by : Kanishka Sarkar)