GAIL India net up 70% to Rs 774 cr

GAIL India today reported a 70 per cent rise in profit to Rs 774 crore during July-September 2005, compared with Rs 456 crore during the corresponding period last year.

Turnover during the second quarter of the current year grew 17 per cent to Rs 3,601 crore against Rs 3,081 crore during the corresponding period last year.

Net profit during the first six months of the current year went up 58 per cent to Rs 1,258 crore, compared with Rs 795 crore during April-September 2004.

Turnover during the first half of the current financial year increased 16 per cent to Rs 6,889 crore, from Rs 5,955 crore during corresponding period last year.

Revenues from LPG and other liquid hydrocarbons, which went up 31 per cent owing to higher weighted average price and lower LPG subsidy, helped GAIL improve its performance.

The public sector company's gross margins during the first half of 2005-06 has shown an 18 per cent rise to Rs 2,102 crore. GAIL's natural gas transmission during second quarter of the current year showed 8 per cent growth to 76.80 million standard cubic metre per day .