Home >Companies >Q3 Fy19 Results >GAIL Q3 profit soars 33%, beats estimate

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%.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed

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