GAIL's Q1 profit surges to Rs.6.85 billion

GAIL's Q1 profit surges to 6.85 billion

Monday, 30 July 2007, 07:00 Hrs
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New Delhi: The state-run Gas Authority of India Ltd. (GAIL) Friday posted a net profit of 6.85 billion in the first quarter of 2007-08 as against 5.92 billion last year, an increase of 16 percent.

The company's turnover increased to 42.46 billion compared to 40.78 billion in the first quarter of 2006-07, said a company statement.

Revenues from its petrochemicals business surged by 41 percent to 7.78 billion during the first quarter from 5.50 billion in the corresponding period last year.

Increase in the revenues have been possible due to higher per unit realisation from petrochemicals, the increase in production of petrochemicals by 29 per cent and increase in LPG transmission by 19 percent during the quarter, the company said.

During the period, GAIL has shared 2.72 billion towards LPG and kerosene subsidy as compared to a provisional subsidy of 2.50 billion the previous year.
Source: IANS
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