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Fireworks in GAIL Q2 report, profit jumps 50%

Profits stood at Rs 1,963 crore for the second quarter of the current fiscal, compared with Rs 1,310 crore a year earlier

Fireworks in GAIL Q2 report, profit jumps 50%
Fireworks in GAIL Q2 report, profit jumps 50%

New Delhi: India’s gas major, Gas Authority of India Limited, topped estimates and posted a 49.89 percent rise in profit in the second quarter of the current fiscal, boosted by higher revenue from its natural gas marketing business.

Profits stood at Rs 1,963 crore ($268.86 million) for the three months that ended on September 30, compared with Rs 1,310 crore a year earlier, the company said.

Total income of the company increased 54.86 per cent to Rs 19,640.96 crore in Q2 over Rs 12,682.88 crore the year before.

According to Refinitiv data, analysts on average had expected a profit of Rs 1,531 crore.

Total income of the company increased 54.86 per cent to Rs 19,640.96 crore in Q2 over Rs 12,682.88 crore the year before.

Revenue from operations jumped 55.3 percent to Rs 19,275 crore.