State-owned GAIL (India) Ltd on Thursday reported its highest quarterly net profit in the quarter ended on December 31, 2021 as a rise in natural gas prices helped improve the company’s margins. Net profit came in at Rs 3,287.99 crore, or Rs 7.40 per share, in October-December 2021 and that was more than double as compared to Rs 1,487.33 crore, or Rs 3.30 a share, in the same period a year back.

On Q4 demand, Manoj Jain, CMD of GAIL said, “The numbers in terms of volumes are going to be similar to what in Q3. From the volume perspective, whether it is gas transmission or gas trading, the numbers are going to be similar. In terms of transmission volumes we are looking at growth of around 10 percent and in terms of trading volumes, also it's going to be 8 to 10 percent at least for the FY23.”

He added, “In terms of value wise, because the prices may fluctuate here and there, but at least for Q4, we expect the prices also to be in the same range almost a little bit lower than Q3, but otherwise, the range is going to be similar. We expect a stable Q4 similar to Q3.”

For full management commentary, watch the video.

-With PTI inputs

Read Here: GAIL Q3 results: Net profit jumps 15% QoQ to Rs 3,288 crore, beats Street estimates

First Published:Feb 4, 2022 1:23 PM IST