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GAIL Q2 net rises 19% to `1,094 cr

GAIL (India) Limited has announced a 19 per cent increase in net profit to `1,094 crore during the second quarter ended September 30 against `924 crore in the same period last year.

The government-controlled transporter and marketer of natural gas registered a 20 per cent increase increase in turnover (net of Excise Duty) to `9,699 crore and 12 per cent increase in gross margins to `1,792 crore in Q2 of the current year against `1,607 crore in the same period last year. The profit before tax increased by 9 per cent to `1,568 crore in the Q2 of the current year against `1,433 crore in the same period last year.

Revenues from LPG and Liquid Hydrocarbons business increased by 34 per cent to `988 crore as against `737 crore in the corresponding period of last year.

The net sales from Petrochemicals business have increased by 30 per cent to `938 crore.

As against `721 crore in the corresponding period last year. The net revenue from Natural Gas Trading during the quarter increased by 20 per cent to `7,575 crore as against `6,290 crore in the corresponding period of the last year.

Revenue from Natural Gas Transmission business have increased to `980 crore as against `979 crore in the corresponding period of previous year. The revenues from LPG transmission during the second quarter of the current year was `110 crore as against `114 crore in the corresponding period last year.

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