NEW DELHI: State-run gas utility GAIL on Thursday posted its highest-ever quarterly profit in the October-December period on higher margins due to rising gas prices. Consolidated net profit more than doubled to Rs 3,780 crore during the period from Rs 1,883 crore a year ago.
Company chairman Manoj Jain said the company has surpassed all financial parameters on account of improved gas marketing spread, better product prices and improved operating efficiency in petrochemicals and liquid hydrocarbons.
The stock ended 1.2% higher at Rs 147.4 each on Thursday.
Revenue from operations jumped 67% to Rs 26,175 crore during the quarter under review against Rs 15,675 crore in the year-ago period.
Revenue from natural gas marketing spiked 69% to Rs 25,117 from a year ago and from petrochemicals surged 24% to Rs 2,400 crore.
Company chairman Manoj Jain said the company has surpassed all financial parameters on account of improved gas marketing spread, better product prices and improved operating efficiency in petrochemicals and liquid hydrocarbons.
The stock ended 1.2% higher at Rs 147.4 each on Thursday.
Revenue from operations jumped 67% to Rs 26,175 crore during the quarter under review against Rs 15,675 crore in the year-ago period.
Revenue from natural gas marketing spiked 69% to Rs 25,117 from a year ago and from petrochemicals surged 24% to Rs 2,400 crore.
.