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Photo: Mint
Photo: Mint

GAIL Q2 profit jumps 50%, tops estimates

Profit came in at 1,963 crore for the three months ended on 30 September, compared with 1,310 crore a year earlier, GAIL (India) Ltd said

State-run gas utility GAIL (India) Ltd posted a 50% jump in second-quarter profit on Monday, boosted by higher revenue from its natural gas marketing business.

Profit came in at 1,963 crore ($268.86 million) for the three months ended on 30 September, compared with 1,310 crore a year earlier, the company said.

Analysts on average had expected a profit of 1, 531 crore, according to Refinitiv data.

Revenue from operations jumped 55.3% to Rs19,275 crore.

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