GAIL reports 42% YoY rise in Q2 profit; beats Street estimates

UBI posts Rs 344.83 crore net loss in Q2

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State-owned gas transmission utility GAIL (India) today reported a 42 per cent jump in net profit for the quarter ended September on the back of improved performance of the liquid hydrocarbon and natural gas transmission and marketing 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 company has posted net profit of Rs.246.46 crores for the 6 months period ended September 30, 2017 as against Rs.252.85 crores for the 6 months period ended September 30, 2016.

Its total income rose 1.28 per cent to Rs 601.72 crore during the quarter under review compared to Rs 594.07 crore in the corresponding quarter last fiscal.

Marvell Technology Group Ltd. (MRVL) Shares Bought by Victory Capital Management Inc
Qs Invsts Ltd Liability Corporation invested in 18,795 shares. (NYSE:MRK) on Friday, September 8 with "Outperform" rating. This represents a $0.24 annualized dividend and a yield of 1.19%. 87 funds opened positions while 334 raised stakes.

Steel Minister Chaudhary Birender Singh had said Steel PSUs are not holy cows and should step out of their comfort zone to perform and compete with private players.

The minister warned that the PSUs can not afford to sit on their laurels in the changing scenario in the world, the minister had said.

Total expenses of the company declined to Rs 10,775.22 crore in Q2FY18 over Rs 10,999.88 crore in Q2FY17.

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