State-owned gas utility GAIL (India) Ltd on Tuesday reported a 56 per cent jump in its September quarter net profit as bumper earnings from gas transmission and marketing business offset petrochem losses.
Standalone net profit of Rs 2,404.89 crore in July-September, or Rs 3.66 per share, was 54.4 per cent higher than Rs 1,537.07 crore, or Rs 2.34 a share, profit in the same period last year, according to the company's stock exchange filing.
GAIL saw pre-tax earnings from its mainstay gas transportation business soar 82 per cent to Rs 1,290.65 crore in the second quarter of the current fiscal. Also, its pre-tax earnings from the marketing of natural gas also jumped almost 400 per cent to Rs 1,784.58 crore.
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Losses in the petrochemical business narrowed to Rs 160.61 crore from Rs 346.22 crore in July-September 2022.
Its revenue from operations dropped to Rs 31,882.62 crore in July-September from Rs 38,490.89 crore on lower gas prices.
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