Q3 net profit rises 13% on higher petrochemical, cooking gas output

GAIL (India) Ltd. beat analysts' expectations with a 13% rise in quarterly net profit, as an increase in output of petrochemicals and cooking gas offset higher subsidy payout and flat natural gas transmission volume. Net profit at India's state-run pipeline utility grew to INR 10.91 bln in the quarter ended Dec. 31, from INR 9.68 bln a year earlier. Sales rose 35% to INR 112.60 bln from INR 83.65 bln. GAIL controls 72% of India's gas transmission market with about 175 mln metric standard cubic meters a day capacity. The company is expanding its petrochemical output in the third quarter was 118,000 tons, up 16% from a year earlier when production was hit due to a shutdown on account of fire at a petrochemical plant at Pata in northern Uttar Pradesh state. Cooking gas output rose 8% to 359,000 tons.
  More News  Post Your Comment

Previous News

Next News

{{comment.Name}} made a post.




There are no comments to display. Be the first one to comment!


Name Required.


Email Id Required.

Email Id Not Valid.


Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.

Message Required.

Click to Change image  Refresh Captcha