GAIL net profit up 79 percent

October 23rd, 2008 - 9:05 pm ICT by IANS  

New Delhi, Oct 23 (IANS) GAIL (India) Ltd, formerly known as Gas Authority of India Ltd, has posted 79 percent growth in net profit in the second quarter of this fiscal over the corresponding period last year.The company reported net profit of Rs.10.23 billion in the quarter, compared to Rs.5.73 billion in the year-ago period.

GAIL’s turnover increased to Rs.61.29 billion in the July-September quarter.

Similarly, the gross margin rose significantly from Rs.10.59 billion to Rs.16.6 billion, registering a growth of 57 percent.

On the half-yearly front, GAIL has posted 35 percent rise in turnover to Rs.118.6 billion, while net profit increased by 53 percent to Rs.19.2 billion.

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