Bengaluru: State-owned gas distribution company GAIL (India) Ltd on Tuesday reported a 33.2% jump in third-quarter profit, beating market estimate, buoyed by a surge in revenue from its natural gas marketing segment.
Profit for the quarter ended December 31 came in at ₹1,681 crore ($234.32 million), compared with a profit of ₹1,262 crore last year, the company said.
Sixteen analysts on average estimated the company, which also engages in transmission of petrochemicals and liquefied petroleum gas, to post a profit of ₹1,551 crore in the quarter, according to Refinitiv Eikon data.
GAIL's revenue from operations surged 37.3% to ₹19,789 crore. Revenue from its natural gas marketing segment, which accounts for more than three-fourth of the total, spiked over 46%.
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