GAIL India Reports Profit Of Rs 1,502 Crore In June Quarter

GAIL India on Friday reported a net profit of Rs 1,501.95 crore in the April-June period. That meant an increase of 4.19 per cent compared to its net profit in the corresponding period a year ago. GAIL's revenue from operations came in at Rs 18,481.56 crore, up 5.17 per cent compared to the year-ago period, according to a regulatory filing by the company. GAIL shares - which traded in the negative zone during most of the session - jumped 2.79 per cent to Rs 125.30 apiece on the BSE after the earnings announcement by the state-run gas distribution company. 

GAIL said its revenue from natural gas transmission services grew 12.83 per cent to Rs 1,479.73 crore in the first quarter of the current financial year. Revenue from LPG transmission services however declined 4.54 per cent to Rs 134.59 crore in the quarter ended June 30.

Revenue from petrochemical operations stood at Rs 1,112.76 crore in the first quarter of 2019-20, as against Rs 1,613.39 crore in the quarter ended June 30, 2018.

At 2:51 pm, shares in GAIL India traded 2.30 per cent higher at Rs 124.70 apiece on the BSE, outperforming the benchmark Sensex index which was up 1.06 per cent backed by buying across sectors.

GAIL India's net profit came in at Rs 6,545.74 crore in financial year 2018-19, up 36.40 per cent compared to the previous year.