GAIL April-June net rises 35 per cent to Rs887 crore
02 Aug 2010
GAIL (India) has posted a net profit of Rs886.88 crore during fiscal first quarter ended 30 June 2010 - a 35 per cent increase from the Rs655.84 crore recorded in the April-June 2009-10 quarter.
Total income for the April-June 2010-11 quarter increased around 18 per cent to Rs7,163.5 crore from Rs6,119.1 crore in the previous-year quarter.
Profit before tax increased 34 per cent to Rs1,322 crore in the first quarter of the current financial year from Rs987 crore in the corresponding quarter of the previous year.
GAIL said it incurred Rs445 crore in LPG and kerosene subsidy in the first quarter of the current financial year against Rs75 crore during the corresponding previous year quarter.
Revenue from LPG transportation increased 8 per cent to Rs114 crore from Rs106 crore in the corresponding quarter of the previous financial year.
Net sales from LPG and liquid hydrocarbons business increased 14 per cent to Rs781 crore during the April-June 2010 quarter from Rs686 crore in the corresponding quarter of the previous year.