GAIL

GAIL (India) Ltd., the state-run gas utility and a key player in the country’s energy value chain, reported a 30% year-on-year decline in consolidated net profit for the first quarter of FY26. The downturn was primarily driven by sustained losses in its petrochemical segment and tighter margins across key business verticals. Despite steady performance in its natural gas transmission operations, the company faced headwinds due to volatile global energy prices, weak downstream demand, and elevated input costs.

In a strategic move underscoring India's commitment to clean energy, state-owned GAIL (India) Ltd has entered into a memorandum of understanding with the Government of Karnataka to explore the development of renewable energy projects totaling up to 1 gigawatt (GW) over the next five years. The collaboration supports GAIL's broader objective of achieving net-zero carbon emissions by 2035 and aligns with Karnataka’s ambition to position itself as a national leader in sustainable energy.