Shares of Gujarat State Petronet declined more than 4% in early trade after the company reported a muted performance for the December quarter, triggering investor caution despite relatively stable operating margins.
For Q3 FY26, the gas transmission major posted consolidated revenue of Rs 3,885 crore, marking a 3.1% quarter-on-quarter decline compared with Rs 4,008 crore in the preceding quarter. The revenue contraction reflects softer transmission volumes and limited upside in tariff realisations during the period.
Operating performance remained largely flat. EBITDA came in at Rs 613 crore, down 1.2% sequentially from Rs 621 crore. However, EBITDA margin showed a marginal improvement, rising to 15.8% from 15.5% in Q2 FY26, indicating continued cost discipline and stable operational efficiency.
Net profit for the quarter stood at Rs 257 crore, a decline of 1.5% quarter-on-quarter compared with Rs 261 crore previously.
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