GAIL India on Monday reported a 25% decline in its consolidated net profit of Rs 2,382.24 crore for the first quarter, compared with Rs 3,183.35 crore in the year-ago period. On a sequential basis, the net profit fell 5% from Rs 2,505.61 crore.
Revenue from operations, despite rising a marginal 1.7% year-on-year to Rs 35,428.81 crore, declined 3% on a sequential basis from Rs 36,551.15 crore.
Capex Target Raised
The company estimates the capex target for FY26 at Rs 10,700 crore, against Rs 10,512 crore incurred in FY25, it said in an exchange filing.
“The company has incurred a capex of Rs 3,176 crore during the current quarter, mainly on pipelines, petrochemicals, equity contribution to JVs, etc,” chairman and managing director Sandeep Kumar Gupta said.
Gupta said GAIL has got an authorisation from the Petroleum and Natural Gas Regulatory Board for capacity expansion of the Jamnagar-Loni LPG pipeline from 3.25 million tonne per annum to 6.5 MMTPA, involving an estimated capex of Rs 5,000 crore. The project is expected to be completed in three years. “This project will cut down on CO₂ emissions significantly and reduce road mishaps and leaks,” the company said.
Petchem Expansion and LNG Push
With a number of petrochemical projects underway, GAIL expects to add approximately three million tonne of petrochemical capacity in FY26, it earlier said. GAIL India and CONCOR had signed an Memorandum of Understanding (MoU) to explore the adoption of liquefied natural gas as an alternative fuel for the logistics sector.