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Home / Companies / Company Results /  GAIL Q1 net profit jumps 91% to 2,915 cr on marketing margins
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State gas utility GAIL (India) Ltd on Thursday reported a 90.5% jump in its June quarter net profit at 2,915 crore. The rise in year-on-year profit was on the back of bumper earnings from natural gas marketing.

The company had posted a net profit of 1.530 crore for the year-ago period.

Sequentially, the profit was lower than 1,529.92 crore net earnings in the March quarter.

The company's revenue from operations rose 116% year-on-year to 37,572 crore in the quarter under review as against 17,387 crore for the same quarter last fiscal.

The margin on gas marketing made up for a 12.5% decline in earnings from the gas transportation business and a 74% drop in petrochemicals earnings.

Turnover more than doubled to 38,033.30 crore in April-June quarter, from 17,702.43 crore a year back, the statement showed.

GAIL said the earnings per share have been adjusted on account of a buyback of 1.28% shares by the company.

Last month, the board of directors of the firm had recommended the issue of one bonus share for two existing equity shares.

On Thursday, shares of GAIL were trading 1.14% lower at 139.20 apiece on the NSE during noon deals.

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