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( 10 Nov 2020)
GAIL (India) Q2 net profit up 16.48% at Rs 1239.67 cr

The company reported standalone net profit of Rs 1,239.67 crore for the quarter ended September 30, 2020 as compared to Rs 1064.25 crore in the same period last year, registering a year-on-year growth of 16.48 per cent.

Net revenue of the company declined substantially by 24.37 per cent at Rs 13,642.74 crore in July-September quarter of this fiscal as against Rs 18,039.92 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 25.32 per cent to Rs 12,304.60 crore from Rs 16,477.23 crore in year ago period.

Other Income grew by 64.50 per cent at Rs 723.92 crore versus (Sep'19 Rs 440.07 crore).

Operating Profit slipped by 14.37 per cent to Rs 1,338.14 crore as against Rs 1,562.69 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 13.28 per cent in September quarter.

Interest declined by 0.25 per cent y-o-y to Rs 27.43 crore, while Taxation decreased by 34.08 per cent at Rs 310.67 crore (Sep'19 Rs 471.26 crore).