GAIL India reports 15% rise in June quarter net profit

NEW DELHI: GAIL India reports 15 per cent increase in its net profit for the April-June quarter to Rs 1,134 crore as compared to Rs 985 crore in the year-ago period, on the back of higher revenue from trading of gas and sale of liquid hydrocarbons.

GAIL Chairman and Managing Director BC Tripathi said that the turnover was up 25 per cent at Rs 11,089 crore.

The sales from natural gas trading rose by 28 per cent to Rs 9,242 crore while revenue from gas transmission dipped 2 per cent to Rs 915 crore. Net sales from LPG and other liquid hydrocarbons increased by 32 per cent to Rs 1,072 crore.

The earnings before tax from natural gas trading jumped by 58 per cent to Rs 495.64 crore while profit before tax (PBT) from sales of LPG and liquid hydrocarbons climbed 91 per cent to Rs 437.27 crore.

Moreover, the company is mulling for Rs 7,354-crore investment on pipeline expansion and other projects, Of the planned investment, 45 per cent would be met through internal resources and the balance would be met through borrowings.