GAIL profit rises 19% to Rs 1,094 cr

GAIL (India) Limited on Monday announced a 19 per cent increase in net profit to Rs 1,094 crore during the second quarter ended September 30 against Rs 924 crore in the same period last year.

The government-controlled transporter and marketer of natural gas registered a 20 per cent increase increase in turnover (net of Excise Duty) to Rs 9,699 crore and 12 per cent increase in gross margins to Rs 1,792 crore in Q2 of the current year against Rs 1,607 crore in the same period last year. The profit before tax increased by 9 per cent to Rs 1,568 crore in the Q2 of the current year against Rs 1,433 crore in the same period last year.

Revenues from LPG and Liquid Hydrocarbons business increased by 34 per cent to Rs 988 crore as against Rs 737 crore in the corresponding period of last year.

The net sales from Petrochemicals business have increased by 30 per cent to Rs 938 crore.

As against Rs 721 crore in the corresponding period last year. The net revenue from Natural Gas Trading during the quarter increased by 20 per cent to Rs 7,575 crore as against Rs 6,290 crore in the corresponding period of the last year.

Revenue from Natural Gas Transmission business have increased to Rs 980 crore as against Rs 979 crore in the corresponding period of previous year. The revenues from LPG transmission during the second quarter of the current year was Rs 110 crore as against Rs 114 crore in the corresponding period last year.