Gail Q4 Profit Rises 57% on Higher Petrochem Price

The Economic Times - - Companies -

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.

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