GAIL Q2 net soars 41% to `1,309 cr
STATE-OWNED gas utility GAIL India on Tuesday reported a 41.6 per cent jump in its second quarter profit as earnings from gas transportation and marketing business soared.
Net profit in JulySeptember at Rs 1,309.63 crore, or Rs 7.74 a share, was 41.6 per cent higher than Rs 924.65 crore, or Rs 5.47 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 Rs 853.48 crore pre-tax profit from gas transmission business in the quarter as compared to Rs 660.74 crore last year.
The firm transported and marketed 5 per cent more gas volumes in the July-September quarter, the statement said.
Earnings from natural gas marketing rose 27 per cent to Rs 419.74 crore while the same from petrochemical business nearly halved to Rs 88.81 crore. Revenue fell by about one per cent to Rs 12,409.65 crore.