Gujarat State Petronet (GSPL) Q2 25/26 earnings summary

Executive summary

• Q2 2025-26 saw gross income rise to ₹580 crore on a standalone basis, up from ₹552 crore in Q1 2025-26 and ₹487 crore in Q2 2024-25.

• Consolidated gross income for Q2 2025-26 reached ₹4,321 crore, compared to ₹4,235 crore in Q2 2024-25.

• Board approved unaudited standalone and consolidated financial results for the quarter and half-year ended 30th September 2025.

• Statutory auditors issued unmodified review reports for both standalone and consolidated results.

Financial highlights

• Standalone PAT for Q2 2025-26 was ₹382 crore, up from ₹327 crore in Q1 2025-26 but down from ₹389 crore in Q2 2024-25.

• Consolidated PAT for Q2 2025-26 was ₹389 crore, a decrease from ₹423 crore in Q2 2024-25.

• Standalone revenue from operations for Q2 FY26: ₹27,406.22 lakh, up from ₹25,795.90 lakh in Q2 FY25.

• Standalone net profit for Q2 FY26: ₹38,246.21 lakh, up from ₹14,248.57 lakh in Q2 FY25.

• Consolidated revenue from operations for Q2 FY26: ₹4,20,638.87 lakh, up from ₹4,15,901.93 lakh in Q2 FY25.

Segment performance

• Gas transportation revenue in Q2 2025-26 was ₹266.51 crore, up from ₹246.94 crore in Q2 2024-25.

• Electricity sales revenue in Q2 2025-26 was ₹7.55 crore, down from ₹11.02 crore in Q2 2024-25.

• Transmission volumes in the GSPL network were 29.02 MMSCMD in Q2 2025-26, down from 29.65 MMSCMD in Q2 2024-25 and 30.20 MMSCMD in Q1 2025-26.

• Sectoral volume share in Q2 2025-26: CGD 37.14%, Refinery/Petchem 17.38%, Fertilizer 12.66%, Power 11.43%, Others 21.03%.