State-owned gas transmission utility GAIL (India) today reported a 42 per cent jump in net profit for the quarter ended September on the back of improved performance of the liquid hydrocarbon and natural gas transmission and marketing segments.
Net profit of the company during the quarter stood at Rs 1,310 crore as compared to Rs 925 crore in the corresponding quarter last financial year.
“The increase in net profit in Q2 FY 2017-2018 on year-on-year basis, was supported by increase in Natural Gas Transmission & Marketing volumes by 5 per cent each, LPG transmission by 11 per cent, Petrochemical sales by 29 per cent and Liquid Hydrocarbon sales by 17 per cent,” the company said in an official release.
Total income from operations during the second quarter grew 8.20 per cent to Rs 12,702 crore as compared to (Rs XX crore) in the corresponding quarter a year ago. The company announced expenses for the quarter reduced 2 per cent to Rs 10,775 crore as compared to corresponding period last fiscal.
GAIL’s share price at the BSE today closed at Rs 456.45, up 0.26 per cent as compared to previous close.