GAIL India Q3 net profit grows 30 percent

New Delhi, Jan 29 (IANS) State-run gas transmission company GAIL India Wednesday posted a stand alone net profit growth of 30.7 percent at Rs.1,679.40 crore for the third quarter ending December 2013, up from Rs.1,284.86 crore for the same quarter the previous fiscal.

The company’s total income increased 27.7 percent quarter on quarter, from Rs.12,521.55 crore for the quarter ending December to Rs.16,246.71 crore for the third quarter of the current fiscal.
GAIL had an income of Rs.344.95 crore in Q3 ending December on account of profit on the sale of long-term investments.
GAIL’s subsidy sharing burden declined 99.81 percent to Rs.1.32 crore in the quarter in question, over the same quarter ending December 2012. The government holds 57.34 percent stake in the company.
GAIL stocks closed Wednesday at Rs.346.30 per share, 0.35 percent, or 1.20 points, higher than its previous close on the Bombay Stock Exchange.