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GAIL net up at Rs. 685 cr.
Special Correspondent
NEW DELHI: GAIL (India) Ltd. has posted an impressive growth in the first quarter of the current financial year, registering a 16 per cent increase in net profit at Rs. 685 crore as against Rs. 592 crore in the corresponding quarter in the previous year.
The turnover also increased by four per cent to Rs. 4,246 crore from Rs. 4,078 crore. The profit before tax also increased by 14 per cent to Rs. 969 crore from Rs. 852 crore. GAIL has shared Rs. 272 crore towards LPG and kerosene subsidy in the first quarter of the current financial year as compared to a provisional subsidy of Rs. 250 crore during the corresponding period the previous year. During the quarter, revenues from petrochemicals business increased to Rs. 778 crore from Rs 550 crore.
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