NEW DELHI: GAIL (India) Ltd on Monday reported a 10-fold jump in its Q3 net profit as all engines of its business - from gas transportation to marketing and petrochemicals - fired on all cylinders.
Standalone net profit of the nation’s largest gas transmission and marketing firm came at Rs 2,842.62 crore in Oct-Dec - the third quarter of the current fiscal year that started in April 2023 - as compared to Rs 245.73 cr earning a year back. The net profit was better than Rs 2,404.89 cr earning in the preceding quarter.
This came on the back of pre-tax earnings from the gas transportation business jumping nearly three-fold to Rs 1,215.07 crore. Petrochemicals business saw a turnaround with a small pre-tax profit of Rs 62 crore as against a loss of Rs 349 crore a year ago.