GAIL Q3 net profit surges by 46% to Rs 983 crore

New Delhi: Gas marketer GAIL has posted a 46% rise in the third-quarter profit aided by a boost in the petrochemicals business.

Profit rose to Rs 983 crore in the Oct-December quarter from Rs 676 crore a year ago. Sales fell 9% to Rs 12,294 crore on a drop in natural gas sales. The revenue from the natural gas marketing dropped by 20% to Rs 9414 crore and profit fell 38% to Rs 300 crore in the quarter.

The revenue from petrochemicals business jumped 75% to Rs 1406 crore. The segment also turned a profit of Rs 134 crore, against a loss of Rs 163 crore in
the year-ago quarter.

In terms of volumes, petrochemical sales were up 8% and liquid hydrocarbon up 4%.