GAIL India has reported 41.6 percent jump in its Q2FY18 net profit at Rs 1309.6 crore against Rs 924.7 crore in the same quarter a year ago.
Net profit in July-September was at Rs1,309.63 crore, or Rs7.74 a share, which was 41.6% higher than Rs924.65 crore, or Rs5.47 per share, in the same period a year ago, the company said in a statement.
It earned a pre-tax profit of Rs 853.48 crore from gas transmission business during the second quarter, as compared with Rs 660.74 crore in the same quarter previous year.
This is published unedited from the PTI feed.
GAIL said all the business segments registered positive physical growth both sequentially and as compared with the corresponding quarter past year.
"As a result of continued focus on value added products and efficiencies in cost structure, net profit for the quarter ended September 30, 2017 of Rs 42.9 crores has increased by 24 per cent over the corresponding period past year", the company said in a statement. The company announced expenses for the quarter reduced 2 per cent to Rs 10,775 crore as compared to corresponding period last fiscal.
Revenue dropped marginally by around 1per cent to Rs12,409.65 crore. This is much lower than the markets' estimate of Rs 405 crore.