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

United Bank of India United Bank United Bank quarterly earning United Bank revenue

The bank’s operating profit saw a 34.5 per cent y-o-y dip to Rs 286 crore against Rs 436.59 crore in the year-ago period

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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Following the completion of the transaction, the insider now owns 123,865,804 shares in the company, valued at $10,040,562,072.24. Eli Lilly and Company ( LLY ) have shown a high EPS growth of -8.00% in the last 5 years and has earnings rose of 14.10% yoy.

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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