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Gail may report double-digit growth in Q3FY21- Read more

Gail India is expected to report double-digit growth in its earnings for the quarter ended on December 2020 on the back of increased gas consumption.

Gail is a state-owned gas distribution and gas processing company. The company will announce its Q3 report for FY21 by today, February 10.

Experts believe that the company may report a double-digit sequential growth in its Q3 earnings. The whole pandemic has witnessed an increased consumption of gas by especially the fertiliser units.

Also, the increase in the city gas demand in pre-COVID levels are likely to increase the demand and simultaneously the growth levels.

Apart from this, the progress in Jagdishpur-Haldia pipeline and also the pre-commissioning of many fertilizers plants are likely to play the key element.

Moreover, many experts believe that the company may report a sharp increase in the EBITDA. This will be led by most probably the gas marketing segment of Gail.

Further, there is an increase in the profits for LPG production. Further lower gas cost along with higher gains form the petrochemicals segments offsets the higher LNG cost moreover.

According to the brokerage experts, the company will likely report 28% sequential profit growth, 61.5 percent EBIDTA growth.

Also, the company is likely to report an 18 percent growth in its revenue cumulating from operations during Q3 FY21.

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