GAIL hit with ₹143-crore GST demand; Q2 profit rises 17.6%

• GAIL (India) Ltd received a GST demand order of ₹143.08 crore from the CGST, Delhi South Commissionerate.
• The demand is for alleged non-payment of GST on corporate guarantees issued by GAIL to banks for its subsidiaries and joint ventures.
• GAIL reported a 17.6% sequential rise in Q2 net profit, reaching ₹2,217 crore, exceeding analyst estimates.
• Q2 revenue stood at ₹35,008 crore, slightly higher than Q1 and above analyst expectations.

Why It Matters: GAIL's ₹143-crore GST demand impacts its finances and raises questions on corporate guarantees.