GAIL India or formerly known as Gas Authority of India Limited, reported their quarterly financial report of the financial year 2019 with a net profit of Rs.1259 crore, a profit level up by 23% as against the previous fiscal year quarter. In the previous year, net profit stood at Rs. 1021 crore.
GAIL India, which is the country’s largest state-owned gas marketer and distributor also posted the net revenue of Rs. 17,299 crores with a year-on-year (y.o.y) growth of 52% as compared to Rs. 11,407 crores in the first quarter of the fiscal year 2018.
The company also overtook the profit generated in the last March-end quarter of the fiscal year 2018, where the net profit stood at Rs. 1021 crore and a net revenue of Rs. 15431 crores.
The company said in a statement that the higher profit was mainly due to an overall better performance by gas trading and petrochemical segments. EBITDA for the quarter under review grew by 18% (y.o.y) to Rs. 2243.6 crores and the EBITDA margin stood at 13%.