GAIL’s Profit Increases By 50% As Compared To Last Fiscal

GAIL (India) Limited has reported a 1,963 crore net profit for the second quarter of the financial year 2018-2019. This is 50 percent higher than the 1,310 crores bottom line reported by the company in the corresponding quarter of the last fiscal.

According to the reports from GAIL, the increase on year on year basis was supported by an increase in Natural Gas Marketing volumes by 14 percent, LPG Transmission by 11 percent, Petrochemicals Sales by 4 percent and Liquid Hydrocarbon Sales by 1 percent.

The current quarter also includes the effect of an upward tariff revision of 194 crores approved by the Petroleum and Natural Gas Regulatory Board from April 1, 2018, for Dahej-Uran-Dabhol-Panvel Pipeline, Dukli, Maharajganj, Agartala, Regional Network and Gujarat Regional Network.