New Delhi, Nov 14 (PTI) State-owned gas utility GAILIndia Ltd today reported a 41.6 per cent jump in its secondquarter profit as earnings from gas transportation andmarketing business soared.
Net profit in July-September at Rs 1,309.63 crore, or Rs7.74 a share, was 41.6 per cent higher than Rs 924.65 crore,or Rs 5.47 per share, in the same period a year ago, thecompany said in a statement.
GAIL, which owns the biggest natural gas pipeline networkin the country, earned Rs 853.48 crore pre-tax profit from gastransmission business in the quarter as compared to Rs 660.74crore last year.
The firm transported and marketed 5 per cent more gasvolumes in the July-September quarter, the statement said.
Earnings from natural gas marketing rose 27 per cent toRs 419.74 crore while the same from petrochemical businessnearly halved to Rs 88.81 crore.
Revenue fell by about one per cent to Rs 12,409.65 crore.
GAIL said all the business segments registered positivephysical growth both sequentially and on year-on-year basis.
"The increase in net profit in Q2 FY 2017-18 on year-on-year basis, was supported by increase in natural gastransmission and marketing volumes by 5 per cent each, LPGtransmission by 11 per cent, petrochemicals sales by 29 percent and liquid hydrocarbon sales by 17 per cent," it said.
On half yearly basis, net profit at Rs 2,335 crore was 32per cent higher than year ago profit. PTI ANZMR.
This is unedited, unformatted feed from the Press Trust of India wire.