Gail (India) gains after stellar Q2 performance

Gail (India) added 2% to Rs 150.25 after the company reported 159% rise in consolidated net profit to Rs 2,883 crore in Q2 FY22 from Rs 1,112 crore in Q2 FY21.

Net sales during the quarter increased by 67% YoY to Rs 21,758 crore.

Profit before tax in Q2 FY22 stood at Rs 3,728 crore, up by 160% from Rs 1,432 crore in Q2 FY21.

GAIL (India) is an integrated energy company in the hydrocarbon sector and is engaged in gas marketing. The Government of India held 51.85% stake in the company as of 30 September 2021.

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