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GAIL net profit up by 50pct for Q2 2018

Gasoil News - Published on Thu, 08 Nov 2018

Image Source: Reuters.com
ET reported that state-run natural gas utility GAIL (India) posted a 50 per cent jump in net profit at INR 1,963 crore for the second quarter ended September on the back of improved performance of the gas marketing segment and Liquefied Petroleum Gas (LPG) and liquid hydrocarbon business. The company had reported a net profit of INR 1,310 crore in the corresponding quarter of the previous financial year. Total income of the company also increased 55 per cent to Rs 19,641 crore in September quarter from Rs 12,683 crore recorded in the corresponding quarter last financial year.

GAIL’s Profit Before Tax (PBT) from natural gas marketing segment jumped 149 per cent to Rs 1,045 crore during the quarter. PBT from transmission services including natural gas and LPG increased to Rs 960 crore in the second quarter as compared to Rs 923 crore recorded in the corresponding quarter a year ago.

Petrochemical business recorded PBT of INR 167 crore during the September quarter as compared to Rs 89 crore recorded in the corresponding quarter a year ago. Also, PBT from LPG and Liquid Hydrocarbon business increased 67 per cent to INR 767 crore.

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Posted By : Joykumar Irom on Thu, 08 Nov 2018
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