GAIL reports 28% YoY jump in Q3 profit at Rs 1,262 crore, announces 1:3 bonus issue

NEW DELHI: Gas major GAIL on Monday reported 28.40 per cent year-on-year rise in net profit at Rs 1,262.22 crore for December quarter. The numbers accounted for mark to market losses of Rs 216.29 crore pertaining to derivative contracts entered during the quarter.

The company had reported a profit of Rs 982.92 crore in the corresponding quarter in the previous fiscal.

The board of the company has recommended issuance of one bonus share for 3 existing shares.


The December quarter numbers, meanwhile, included the company's claim for pay charges of Rs 255.36 crore on account of shortfall in annual contracted quantity from one of its customers. The company has settled the case with a sum of Rs 80.36 crore.

Sales for the quarter rose 17.01 per cent to Rs 14,414.34 crore compared with Rs 12,318.56 crore in the same quarter last year.

Margin for the quarter came in at 13.6 per cent against 14.2 per cent in the year ago quarter.