Shares of GAIL (India) Limited slipped on Friday, 22 May, after the state-run gas major reported a weak set of Q4 FY26 earnings. The stock touched an intraday low of Rs 151.41 on NSE after the results were announced post market hours on Thursday.

The March quarter numbers came in below expectations on profitability, even though revenue remained stable sequentially. Weakness in the gas marketing business and pressure on operating margins weighed on investor sentiment.

Standalone profit after tax for Q4 FY26 fell 38.4% year-on-year to Rs 1,262 crore. On a sequential basis, profit declined 21.3% from Rs 1,603 crore reported in the December quarter.

Revenue from operations stood at Rs 34,797 crore for the March quarter, compared to Rs 34,076 crore in Q3 FY26. While revenue remained largely stable, operating performance weakened sharply during the quarter.

Standalone EBITDA came in at Rs 2,175 crore against Rs 3,335 crore in the previous quarter, marking a decline of nearly 35% sequentially. The pressure was mainly visible in GAIL’s gas marketing business, which reported an EBIT loss of Rs 151 crore during the quarter compared to a profit of Rs 853 crore in Q3 FY26. 

Meanwhile, the company’s gas transmission segment remained relatively stable, with EBIT rising to Rs 1,881 crore from Rs 1,376 crore sequentially.

The petrochemical segment continued to remain under pressure as well, although losses narrowed to Rs 377 crore from Rs 472 crore in the previous quarter. On the shareholder payout front, the board declared a final dividend of Rs 0.50 per share for FY26. This comes in addition to the interim dividend of Rs 5 per share already paid in February 2026, taking the total FY26 dividend payout to Rs 5.50 per share.

For the full financial year FY26, standalone net profit stood at Rs 6,968 crore compared to Rs 11,312 crore reported in FY25.

At 10:02 am on 22 May, GAIL shares were trading at Rs 155.58 on NSE, down 0.21% from the previous close of Rs 155.90.

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