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GAIL third-quarter profit soars 33 percent, beats estimate


(Reuters) - State-owned gas distribution company GAIL (India) Ltd on Tuesday reported a 33.2 percent jump in third-quarter profit, beating market estimate, buoyed by a surge in revenue from its natural gas marketing segment.Profit for the quarter ended Dec. 31 came in at 16.81 billion rupees ($234.32 million), compared with a profit of 12.62 billion rupees last year, the company said.Sixteen analysts on average estimated the company, which also engages in transmission of petrochemicals and liquefied petroleum gas, to post a profit of 15.51 billion rupees in the quarter, according to Refinitiv ...

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First Published: Tue, February 05 2019. 14:46 IST