State gas utility GAIL India on Monday recorded a 20 percent rise in its March quarter net profit as margins on natural gas sales and transmission more than made up for the loss in the petrochemical business.
Net profit in January-March stood at Rs 1,222.23 crore, or Rs 4.98 per share and was up 19.70 % from Rs 1,020.92 crore, or Rs 4.53 a share in the previous fiscal, the company said in a regulatory filing.
Revenue increased to Rs 18,763.87 crore in the fourth quarter of 2018-19 fiscal year when compared with Rs 15,430.69 crore net profit in the year-ago period.
The board of GAIL also recommended a 1:1 bonus – issue of one free share for every share held.
This, however, was made good by higher margins on gas transmission and natural gas sales businesses. Pre-tax profit on gas transmission business was up 8.3 percent to Rs 777.92 crore while that on natural gas marketing tripled to Rs 587.53 crore.
