By IANS,
Mumbai : State-run gas utility company GAIL (India) Ltd Tuesday reported an increase of 12.52 percent in its net profit for the third quarter of the current fiscal due to increasing margins on gas and transmission charges.
The net profit for the period stood at Rs.967.63 crore as against Rs.859.95 crore in the like period of 2009-10.
“The company has posted a net profit of Rs.9,676.30 million for the quarter ended Dec 31, 2010 as compared to Rs.8,599.50 million for the quarter ended Dec 31, 2009,” the company said in a regulatory filing.
Meanwhile, the total net profit for the first nine months of the current fiscal increased by 24.63 percent and stood at Rs.2,778.06 crore as compared to Rs.2,229.02 crore in the like period of the last fiscal year.
The total income of the gas-utility company in the period increased by 34.90 percent to reach Rs.857.42 crore from Rs.635.55 crore in the fiscal 2009-10.
GAIL’s net sales in the third quarter grew by 34.66 percent and stood at Rs.8,364.99 crore as compared to Rs.6,211.75 crore. The revenues form transmission charges on natural gas increased by 17.36 percent, where as the same charges on liquefied petroleum gas (LPG) increased by 11.35 percent.
The company’s under-recoveries on discount given on sensitive petroleum products came down by 8.21 percent at Rs.417.68 crore from Rs.455.07 crore in the like period of fiscal 2009-10.