India's oil major, Gas Authority of India Ltd (GAIL), today announced an increase of 13% in net profit for the third quarter ended December, 2011 at Rs 1,091.42 crore as compared to Rs 967.63 crore in the corresponding quarter last year.
Net sales for the quarter under review rose by 35% to Rs 11,260 crore from Rs 8,365 crore in the same quarter last year.
The PSU oil company's subsidy burden reduced to Rs 536 crore from Rs 566.7 crore year-over-year.
Post results, the shares of the firm were trading down 1% at Rs 368.60 per share on the Bombay Stock Exchange.
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