Disappointing October-December quarter results for the 2022-23 financial year (Q3FY23) notwithstanding, it may be the right time in the petro cycle to look at GAIL as a long-term prospect. The gas marketer-cum-transporter reported its poorest results in 11 quarters.
The standalone earnings before interest, taxes, depreciation, and amortisation (Ebitda) and profit after tax (PAT) -- at Rs 260 crore and Rs 250 crore respectively -- were well below Street estimates due to weak performances across segments.
The Ebitda was down 94 per cent year-on-year (YoY), and 85 per cent quarter-on-quarter (QoQ), while PAT was down 93 per cent YoY, and 84 per cent QoQ.
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