Indian Gail Reports 42% Jump in Q2 Profit

India’s biggest natural gas infrastructure firm Gail has reported a sharp 42% increase in profit for the second quarter that ended September 30, 2017, driven by liquid hydrocarbon and natural gas transmission and marketing segments, it said November 14.

The company reported a profit of rupees 13.10bn ($200mn) compared with rupees 9.25bn in the corresponding quarter of the last fiscal year. India’s fiscal year runs from April to March.

Gail’s natural gas transmission and marketing volumes by 5% each, LPG transmission by 11%, petrochemicals sales by 29% and liquid hydrocarbon sales by 17%.

Its H1 profit stood at rupees 23.35bn, signifying an increase of 32% relative to April to September 2016.

Shardul Sharma