State-run gas transmission utility GAIL India (GAIL) on Tuesday posted a 41.6 per cent rise in net profit for the second quarter ending September at Rs 1,309.63 crore, boosted by handsome earnings from its gas transportation and marketing business.
GAIL India has reported 41.6 percent jump in its Q2FY18 net profit at Rs 1309.6 crore against Rs 924.7 crore in the same quarter a year ago. The company announced expenses for the quarter reduced 2 per cent to Rs 10,775 crore as compared to corresponding period last fiscal.
Total income from operations during the second quarter grew 8.20 per cent to Rs 12,702 crore as compared to (Rs XX crore) in the corresponding quarter a year ago.More news: Politics Buhari Snubs Guard of Honour at Ebonyi Govt. House
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However, sequentially, the turnover was down by 15 per cent at Rs 2,421 core as against Rs 2842 crore. Strong performance in Natural Gas Transmission and Marketing is supported by increase in Sales volumes in these segments.
The company posted total income of Rs 2,531.18 crore for the second quarter as against Rs 2,012.64 crore for the corresponding quarter previous year.
The stock closed 0.64 per cent down at Rs 1,087.25 on BSE.