GAIL (India) Ltd on Monday reported a 10-fold jump in its third-quarter net profit at Rs 2,842.62 crore in the October-December period compared with Rs 245.73 crore a year ago as all engines of its business — from gas transportation to marketing and petrochemicals — fired on all cylinders.
The net profit was higher than the profit of Rs 2,404.89 crore in the preceding quarter.
This came on the back of pre-tax earnings from the gas transportation business jumping nearly three-fold to Rs 1,215.07 crore.
Natural gas marketing saw a turnaround, posting a pre-tax earning of Rs 1,880.42 crore as opposed to a loss of Rs 86.02 crore in October-December 2022, a company release said.
The petrochemicals business saw a turnaround with a small pre-tax profit of Rs 62 crore against a loss of Rs 349 crore a year ago.
The company declared an interim dividend of 55 per cent for the financial year 2023-24 — Rs 5.50 per equity share.
BPCL net jumps 82%
Bharat Petroleum Corporation Ltd (BPCL) reported an 82 per cent jump in its December quarter net profit on the back of higher-than-expected refining margins and a rise in margins on fuel sales.
The consolidated net profit of Rs 3,181.42 crore in the October-December period compared with Rs 1,747.01 crore in the same period of the previous financial year.
