BackGAIL Q3 net up 10% to Rs664 crore
Net sales contracted by 10.4% to Rs14,960 crore from the year-ago period
Premium
New Delhi: State-owned gas trader GAIL (India) Ltd on Tuesday reported a 10% jump in profit after tax at ₹ 664 crore in the December quarter of fiscal 2016, driven by improved liquefied petroleum gas transmission revenues which offset losses from the company’s petrochemicals business that suffered due to the global slump in commodity prices.
Net sales contracted by 10.4% during the quarter to ₹ 14,960 crore from the year-ago period as natural gas transmission and marketing took a beating. The company announced an interim dividend of ₹ 2.5 a share, amounting to ₹ 310 crore.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
