Gail Q4 Profit Rises 57% on Higher Petrochem Price
Gail India posted a 57% rise in its Q4 net at .` 972 crore on the back of higher petrochemical and cooking gas prices, chairman and managing director BC Tripathi said, reports Our Bureau. The company had posted a net of .` 618 crore in the same period a year ago. Net profit increased as the company realised .` 96,000 per tonne for petrochemicals it produces against .` 82,000 per tonne in the previous fiscal, he added. Price realisation on cooking gas increased 8% during the financial year to .` 56,000 a tonne. The subsidy the company pays for subsidising diesel and cooking gas came down to .` 500 crore in Q4 from .` 567 crore.