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GAIL India Ltd on Tuesday reported 28 per cent jump in its March quarter net profit on the back of rise in margins from gas trading and higher revenues from petrochemical business. Net profit in January-March at Rs 618 crore was 28 per cent higher than Rs 483 crore net profit in the same period a year ago.
While revenues from natural gas transmission fell to Rs 458 crore from Rs 846 crore in Q4 of 2011-12 but its income from natural gas trading soared to Rs 10,552 crore from Rs 9,121 crore previously. Also, revenue from its petrochemical business jumped to Rs 1,204 crore from Rs 963 crore.
GAIL had to shell out Rs 587 crore to subsidise LPG in January-March, compared with Rs 1,398 crore in the same period a year ago.
