GAIL reports 42% YoY rise in Q2 profit; beats Street estimates

Gail (India) on Tuesday posted a 41.63 per cent year-on-year rise in net profit at Rs 1,309.63 crore for the quarter ended September 30, 2017 against Rs 924.65 crore in the corresponding quarter last year.

ET Now poll had predicted net profit of Rs 1,220 in Q2FY18.

Revenue from operation of the company jumped 2.64 per cent year-on-year to Rs 12,409.65 crore during the quarter under review against Rs 12058.48 crore in the same quarter last year.

Total expenses of the company declined to Rs 10,775.22 crore in Q2FY18 over Rs 10,999.88 crore in Q2FY17.

Shares of the company settled 0.26 per cent up at Rs 456.45. Gail (India) announced its financial results post markets hours.