GAIL net profit up 15% at Rs 1134 cr, stock gains

MUMBAI: GAIL’s net profit for the quarter ended June 2012 rose to Rs 1,134 crore, up 15.24 per cent, against a net profit of Rs 984 crore in the same quarter a year ago and above ET Now poll estimates of Rs 890 crore.

Sales during Q1FY13 grew at Rs 11,088 crore compared to Rs 8,889 crore in the same period last fiscal.

Under recoveries for the quarter ended June 2012 were at Rs 700 crore as against Rs 682 crore in the corresponding quarter in the year-ago period.

At 2:48 pm, the stock was at Rs 354.65, up 2.89 per cent, on the BSE. It touched a high of Rs 356.90 and a low of Rs 341.10 in trade today.