GAIL India Q1 profit up 23%, beats estimates on better gas trading margins


GAIL India Q1 profit up 23%, beats estimates on better gas trading margins

GAIL India Ltd, the country’s largest natural gas marketer, on Friday reported a 23 per cent rise in its April-June quarter net profit on better margins in gas trading and petrochemicals business.

Net profit of Rs 12.59 billion in the first quarter of 2018-19 fiscal was higher than Rs 10.26 billion in the same period of last financial year, the company said in a statement here.

The profit was higher “mainly due to better performance by gas trading and petrochemicals segments,” it said.

Sales were up 50 per cent at Rs 172.62 billion.

Gross margin (EBITDA) witnessed a growth of 17 per cent from Rs 20.15 billion in the first quarter of FY2017-18 to Rs 23.63 billion in April-June FY2018-19. Read More

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