Shares of GAIL (India) were up 5.5 per cent to Rs 106.90 on the BSE on Thursday, surging 8 per cent in the past two trading days after the company reported a 47 per cent year-on-year (y-o-y) growth in profit before tax (PBT) at Rs 2,556 crore for the quarter ended March 2020 (Q4FY20).
EBITDA (earnings before interest, taxes, depreciation, and amortisation) came in at Rs 2,475 crore, up 47 per cent YoY due to better profitability from gas transmission and gas trading segments. The company’s reported profit after tax more than doubled to Rs 3,018 crore from Rs 1,122 crore mainly due to tax reversal as the company shifted to a lower tax rate. Revenues, however, fell 5.4 per cent YoY to Rs 17,753 crore during the quarter.
