GAIL reports 46% Q3 profit at Rs 983 crores

The company’s net profit for the first nine months of the current fiscal saw a 133% increase over the corresponding period last year, with the PAT increasing to Rs 3,243 crore from Rs.1,394 crore.

Maintaining growth in all business segments of its operations including petrochemical, liquid Hydrocarbon and Natural Gas Marketing & Transmission, state-owned gas utility and petrochem company, GAIL India Ltd on Friday announced a 46% increase in its third quarter net profit.

Buoyed by a turnaround in petrochemicals segment and increase in profitability of Liquid Hydrocarbons segment, the net profit of Rs 983 crore in the October-December quarter of the current fiscal was higher than Rs 676 crore in the same period of 2015-16, the company said in a statement.  B C Tripathi is the Chairman and Managing Director of GAIL (India) Ltd.

The rise in net profit during the Q3 was “buoyed by a turnaround in petrochemicals segment and increase in profitability of liquid hydrocarbons segment”, GAIL said.

The Company also registered growth in physical performance in all segments on quarter on quarter basis i.e. Petrochemical Sales up by 8%, Liquid Hydrocarbon Sales up by 4% and Natural Gas Marketing & Transmission volumes up by 3% & 2% respectively. The third quarter witnessed a pricing pressure in Petchem business during November and December 2016, PAT grew by 6% sequentially to Rs 983 crore.

The company’s net profit for the first nine months of the current fiscal saw a 133% increase over the corresponding period last year, with the PAT increasing to Rs 3,243 crore from Rs.1,394 crore.

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