India's Gail reports record half yearly profit
India’s largest gas marketing and transportation company Gail has registered its highest ever half-yearly standalone net profit during the six months to September 30, it said on October 29.
The state-owned company booked a net profit of 43.93bn ($590mn) rupees, up 194% year/year. Revenue came in at record 388.29bn rupees, up 51% yr/yr.
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During the three months to September 30 (Q2), Gail reported a net profit of 28.63bn rupees, up 131% yr/yr. During the quarter, the physical performance improved across all segments, Gail said.
Natural gas transmission volume increased to 114.32mn m3/day in Q2 as against 107.66mn m3/d in Q1. Natural gas marketing volume increased to 97.72mn m3/d during the quarter compared with 95.95mn m3/d in Q1.