GAIL (India) Ltd, the nation's top natural gas sales and distribution firm, on Monday reported a 30% drop in its June quarter net profit on widening losses on petrochemical business and a drop in gas marketing margins.
Net profit was ₹1,886.34 crore in April-June - the first quarter of 2025-26 fiscal year - compared with ₹2,723.98 crore earning in the same period last year, according to a company stock exchange filing.
While losses on petrochemical business widened to ₹249 crore from ₹42 crore in Q1 of last fiscal, earnings from natrual gas marketing nearly halved to ₹1,071.6 crore.
Income from operations rose to ₹34,792.45 crore in April-June from ₹33,961.63 crore last year.
The company did not give operational highlights like volume of natural gas transported by the company as well as the volumes sold.
A GAIL statement gave financial numbers and quoted its chairman and managing director Sandeep Kumar Gupta saying that the firm incurred a capital expenditure of ₹3,176 crore during the current quarter, mainly on pipelines, petrochemicals, and equity contribution to JVs.
Gupta also said GAIL has got oil regulator PNGRB's authorization for doubling of capacity of Jamnagar-Loni LPG pipeline to 6.5 million tonnes per annum at an investment of about ₹5,000 crore. The project is expected to be completed within three years.
The pipeline from Gujarat to Loni near Delhi is the longest pipeline for the transportation of LPG, which is used as cooking gas. "This project will cut down on carbon-dioxide emissions significantly and reduce road mishaps and leaks," the statement added.
