GAIL (India) Ltd.’s quarterly profit surged as other income rose and domestic demand revived, and performance of the petrochemicals and natural gas segments improved.
Net profit of India’s largest gas distributor rose to Rs 1,239.7 crore in the July-September period from Rs 256 crore in the preceding three months, according to an exchange filing. That compares with Rs 1,072-crore consensus estimate of analysts tracked by Bloomberg. Its revenue increased 12.9% quarter-on-quarter to Rs 13,643 crore, against the Rs 14,436-crore forecast.
GAIL (India) Q2 Results 2020-21: Key Highlights (quarter-on-quarter)
- Operating profit rose to Rs 1,338 crore from Rs 622.2 crore.
- Other income jumped threefold to Rs 724 crore.
- Operating margin expanded to 9.8% from 5.2% in the April-June period.
GAIL suffered trading losses in the first quarter as the company sold LNG cargoes in the international market…