GAIL Q2 Profit Soars 41% To Rs1,309.4 Crore

CIL produced 113.04 million tonne of coal during the July September 2017 period. File

Iron ore mining major NMDC has posted a profit of Rs 844.40 crore for the second quarter ended September 30, 2017, up 10 per cent as against Rs 770.76 crore for the corresponding quarter a year ago.

Net profit of the company during the quarter stood at Rs 1,310 crore as compared to Rs 925 crore in the corresponding quarter last financial year.

Total income from operations during the second quarter grew 8.20 per cent to Rs 12,702 crore as compared to (Rs XX crore) in the corresponding quarter a year ago. GAIL, which owns the biggest natural gas pipeline network in the country, earned Rs853.48 crore pre-tax profit from gas transmission business in the quarter as compared to Rs660.74 crore past year. Instead, revenue from the petrochemical business fell almost 50 per cent to Rs 88.81 crore.

All the segments have registered positive physical growth both sequentially and on year-on-year basis.

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Revenue dropped marginally by around 1per cent to Rs12,409.65 crore.

The company has reported net sales of Rs.162.69 crores during the 6 months period ended September 30, 2017 as compared to Rs.153.72 crores during the 6 months period ended September 30, 2016.

The GAIL stock closed on Tuesday at Rs 456.45 a share, up Rs 1.20, or by 0.26 per cent over its previous close on the BSE.

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