GAIL Q2 Profit Soars 41% To Rs1,309.4 Crore

GAIL Q2 Profit Soars 41% To Rs1,309.4 Crore

State-owned gas utility GAIL India Ltd on Tuesday reported a 41.6% jump in its second quarter profit as earnings from gas transportation and marketing business soared.

Net profit in July-September was at Rs1,309.63 crore, or Rs7.74 a share, which was 41.6% higher than Rs924.65 crore, or Rs5.47 per share, in the same period a year ago, the company said in a statement. GAIL, which owns the biggest natural gas pipeline network in the country, earned Rs853.48 crore pre-tax profit from gas transmission business in the quarter as compared to Rs660.74 crore last year.

The firm transported and marketed 5% more gas volumes in the July-September quarter, the statement said. Earnings from natural gas marketing rose 27% to Rs419.74 crore while the same from petrochemical business nearly halved to Rs88.81 crore. Read More…

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