GAIL (India) rose 1.78% to Rs 472.70 at 9:16 IST on BSE after net profit rose 28.4% to Rs 1262.22 crore on 18.8% growth in net sales to Rs 14414.34 crore in Q3 December 2017 over Q3 December 2016.
The results were announced after market hours on Monday, 12 February 2018.Meanwhile, the S&P BSE Sensex was up 57.48 points, or 0.17% to 34,357.95.
On the BSE, 9,912 shares were traded in the counter so far compared with average daily volumes of 2.12 lakh shares in the past one quarter. The stock had hit a high of Rs 474.20 and a low of Rs 470 so far during the day. The stock hit a record high of Rs 518 on 28 December 2017. The stock hit a 52-week low of Rs 347 on 27 June 2017.
The stock had underperformed the market over the past 30 days till 12 February 2018, falling 7.07% compared with 0.84% fall in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.75% as against Sensex's 4.12% rise. The scrip had outperformed the market in past one year, rising 28.69% as against Sensex's 20.98% rise.
The large-cap company has equity capital of Rs 1691.30 crore. Face value per share is Rs 10.
GAIL (India) said its profits improved mainly due to the better performance by liquid hydrocarbon (LHC), gas marketing & transmission segments. Natural gas transmission & marketing volumes increased by 6% each, petrochemicals sales by 21%, liquid hydrocarbon sales by 10% & LPG transmission by 2% in the third quarter, as compared to the corresponding quarter in previous year.
B C Tripathi, chairman & managing director, GAIL (India), said that all the segments have registered physical growth as compared to previous year, which is reflected in both the top line and the bottom line of the company. Along with the operational growth, company is also increasing its natural gas pipeline infrastructure. Similarly, City Gas Distribution (CGD)infrastructure is also being expanded together with the company's subsidiary and joint ventures. The company is confident to meet the capex target of current fiscal year which is more than 70% achieved last year. Similar growth in capex is planned in the next fiscal 2018-19 to around Rs 6000 crore, he added.
GAIL (India)'s board recommended the issuance of one bonus share of Rs 10 each for existing three shares held, subject to the shareholders approval.
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GAIL (India) is India's largest natural gas company.
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