GAIL (India) Limited reported that standalone profit more than doubled in the quarter ended Sept. 30, 2026, as its board gave preliminary approval for a possible public offering of its wholly owned gas subsidiary, GAIL Gas.
Standalone net profit was ₹4,650.22 crore, compared with ₹2,217.24 crore in the year-earlier quarter. Revenue from operations rose 31.1% to ₹45,923.57 crore from ₹35,031.24 crore. Compared with the first quarter of fiscal 2027, profit increased 8.3% and revenue advanced 17.8%. On a consolidated basis, revenue from operations totaled ₹47,301.03 crore, versus ₹35,657.23 crore, while net profit was ₹4,723.75 crore, up from ₹1,988.71 crore. EconoTimes previously covered GAIL’s quarterly results and initial approval for the subsidiary listing.
The board’s in-principle approval covers a GAIL Gas IPO that could reduce the parent company’s holding by as much as 25%. The filing does not set a valuation, price band or schedule, and it gives no estimate of proceeds or who would receive them.
A separate resolution covers six city gas distribution areas: Varanasi, Patna, Ranchi, East Singhbhum, Cuttack and Khordha. Their transfer to GAIL Gas is effective Jan. 1, 2027, through a slump sale on a going-concern basis.
GAIL reported natural gas transmission volume of 130.10 million standard cubic meters per day, up from 122.36 million in the first quarter. Gas marketing volume reached 97.23 million standard cubic meters per day, compared with 93.82 million. Chairman and Managing Director Deepak Gupta said, “Our foremost priority has remained meeting customer requirements and ensuring uninterrupted supplies.”
At 10:28 a.m. India Standard Time Monday (04:58 UTC; 11:58 p.m. ET Sunday), ICICI Direct’s quote for GAIL on the National Stock Exchange of India showed ₹173.16, up 3.13% from the previous close of ₹167.91. The session high shown in that snapshot was ₹174.80, about 4.1% above the previous close.
The next step is for GAIL Gas to submit a proposal informed by input from book-running lead managers. GAIL’s board will review it before deciding the final stake reduction and offering terms.
