GAIL Ltd., state-owned petrochemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020.
Petrochemicals Segment Q2 Results- QoQ
The segment’s net profit grew to Rs 176.31 crores for the period ended September 30, 2020 as against net loss of Rs 154.43 crores for the previous quarter.
Net sales increased 37.9% to Rs 1684.72 crores for the period ended September 30, 2020 as compared to Rs 1221.69 crores during the previous quarter.
Petrochemicals Segment Q2 Results- YoY
The segment’s net profit grew to Rs 176.31 crores for the period ended September 30, 2020 as against net loss of Rs 82.32 crores for the prior-year quarter.
Net sales grew 4.0%to Rs 1684.72 crores for the period ended September 30, 2020 as compared to Rs 1619.16 crores during the prior-year quarter.
Petrochemicals Segment Half-Year Results- YoY
The segment’s net profit grew to Rs 21.88 crores for the 6 months period ended September 30, 2020 as against net loss of Rs 309.35 crores for the prior-year 6 months period.
Net sales dropped 6.4% to Rs 2906.41 crores during the 6 months period ended September 30, 2020 as compared to Rs 2731.92 crores during the prior-year 6 months period.
On the impact of current pandemic on its financial results, GAIL Limited in its stock exchange filing said, “The COVID-19 pandemic globally and in India has impacted business in general and caused slowdown of economic activity. The physical performance of the company has improved as compared to previous quarter and reached to almost normal levels.”