GAIL · Oil Gas & Consumable Fuels
GAIL (India) Ltd. reported revenue of ₹34,698 cr for October to December 2023, — on the year and +5.2% on the quarter.
Operating profit (EBITDA) was ₹4,208 cr, a margin of 12.1%, — on the year and +127 bps on the quarter.
Net profit was ₹3,193 cr, — on the year and +30.8% on the quarter, with earnings per share of ₹4.86.
Refining and marketing profits swing with crude and product margins, and inventory gains or losses can move a single quarter sharply. The quarterly statements do not carry refining margins, throughput and inventory gains or losses; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹32,986 cr | ₹34,698 cr | ₹32,756 cr | ₹34,738 cr | ₹33,889 cr | ₹36,835 cr | ₹36,440 cr | ₹35,311 cr | ₹35,537 cr | ₹35,173 cr | ₹35,577 cr | ₹41,198 cr |
| YoY | — | — | — | +6% | +3% | +6% | +11% | +2% | +5% | −5% | −2% | +17% |
| EBITDA margin | 10.9% | 12.1% | 11.8% | 13.8% | 11.6% | 8.6% | 9.7% | 10.4% | 9.7% | 8.3% | 4.1% | 17.2% |
| Other income, % of PBT | 19% | 22% | 21% | 17% | 19% | 61% | 21% | 19% | 20% | 32% | 64% | 8% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 22% | 22% | 20% | 23% | 22% | 23% | 23% | 21% | 22% | 20% | 25% | 25% |
| Net profit | ₹2,442 cr | ₹3,193 cr | ₹2,474 cr | ₹3,183 cr | ₹2,690 cr | ₹4,084 cr | ₹2,506 cr | ₹2,382 cr | ₹1,989 cr | ₹1,729 cr | ₹1,481 cr | ₹4,671 cr |
| YoY | — | — | — | +78% | +10% | +28% | +1% | −25% | −26% | −58% | −41% | +96% |
| Core profit YoY | — | — | — | +95% | +11% | −35% | +5% | −28% | −28% | −28% | −72% | +135% |
| EPS | ₹3.72 | ₹4.86 | ₹3.75 | ₹4.84 | ₹4.10 | ₹6.21 | ₹3.79 | ₹3.60 | ₹3.00 | ₹2.67 | ₹2.26 | ₹7.10 |
| Flags | · | · | · | ✓ | ✓ | 3 | 1 | 2 | ✓ | ✓ | 3 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
GAIL (India) Ltd. reported revenue of ₹34,698 cr (— on the year) and net profit of ₹3,193 cr (— on the year) for October to December 2023.
None of the 2 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.