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

GAIL Q2 Profit Soars 41% To Rs1,309.4 Crore

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

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.

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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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