GAIL Q3 net profit up 33%

Natural gas processing and distribution company GAIL (India) on Tuesday reported a 33 per cent rise in net profit for the third quarter of 2018-19.

According to a company statement, the net profit during the quarter under review rose to Rs 1,681 crore from Rs 1,262 crore reported for the corresponding quarter of the last financial year.

"The increase in net profit in Q3 FY 2018-19 on year-on-year basis was supported by an increase in natural gas marketing volumes by 9 per cent, LPG transmission volumes by 11 per cent and liquid hydrocarbon sales by 5 per cent," the statement read.

According to GAIL Chairman and Managing Director B.C. Tripathi, the company is expected to achieve a capital expenditure outlay of around Rs 7,000 crore during 2018-19, which would be an increase of more than 70 per cent over the last year's.

The company also declared an interim dividend of Rs 6.25 per equity share (face value of Rs 10 each) for the financial year 2018-19.

--IANS

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