{"id":466205,"date":"2022-02-04T12:06:31","date_gmt":"2022-02-04T06:36:31","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=466205"},"modified":"2022-02-04T12:06:31","modified_gmt":"2022-02-04T06:36:31","slug":"q3-results-gail-profit-rises-121-on-higher-spot-lng-prices","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/q3-results-gail-profit-rises-121-on-higher-spot-lng-prices\/","title":{"rendered":"Q3 Results: GAIL profit rises 121% on higher spot LNG prices"},"content":{"rendered":"<p>State-run gas transporter GAIL\u2019s net profit increased 121.1% year-on-year (y-o-y) to Rs 3,287.9 crore on a standalone basis in the quarter ended December, as the natural gas marketing business \u2014 GAIL\u2019s largest revenue earner \u2014 reported a before-tax profit of Rs 1,749.7 crore against a loss of Rs 73.7 crore in the corresponding period a year ago. GAIL revenue increased 65.9% y-o-y to Rs 26,427.4 crore in Q3, while expenses grew 57.3% to Rs 22,119 crore.<\/p>\n<p>The company gained from higher global prices of spot liquefied natural gas (LNG) and higher domestic demand of the fuel. Analysts at Reliance Securities pointed out that despite higher gas prices, GAIL posted 4% y-o-y growth in gas transmission volume to 114 million standard cubic metres per day. Asia\u2019s spot liquefied natural gas prices have soared to multi-year highs to the current level of $24\/million British thermal unit (mBtu) owing to strong regional demand. In December 2021, the rate had even crossed $49\/mBtu.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-run gas transporter GAIL\u2019s net profit increased 121.1% year-on-year (y-o-y) to Rs 3,287.9 crore on a standalone basis in the quarter ended December, as the natural gas marketing business \u2014 GAIL\u2019s largest revenue earner \u2014 reported a before-tax profit of Rs 1,749.7 crore against a loss of Rs 73.7 crore in the corresponding period a year ago. GAIL revenue increased 65.9% y-o-y to Rs 26,427.4 crore in Q3, while expenses grew 57.3% to Rs 22,119 crore. The company gained from higher global prices of spot liquefied natural gas (LNG) and higher domestic demand of the fuel. Analysts at Reliance Securities [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-466205","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/466205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=466205"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/466205\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=466205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=466205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=466205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}