GAIL Q2 PAT beats estimates at Rs 1303 crore; stock at 52-week high

MUMBAI: Shares of GAIL India surged to hit fresh 52- high after the company beat Street estimates by reporting 42 per cent jump in net profit at Rs 1,303 crore as compared to a net profit of Rs 915 crore.

ET Now poll estimated net profit to be at Rs 994 crore.

Sales for the quarter increased to Rs 14063 crore, up 4.4 per cent, from Rs 13,944 crore. The company provided NIL subsidy sharing for second quarter as compared to Rs 698 crore, in year-ago period.

Other income increased to Rs 289 crore, up 30 per cent, from Rs 222 crore, YoY.

At 02:30 p.m.; the stock was at Rs 541.15, up 6.18 per cent, on the BSE. It touched a high of Rs 551.35 and a low of Rs 510.05 in trade today.