State-owned gas utility GAIL India Ltd today reported 46 per cent rise in its third quarter net profit on back of turnaround in petrochemical business.
Net profit of Rs 983 crore in the October-December quarter of the current fiscal was higher than Rs 676 crore in the same period of 2015-16, the company said in a statement.
The rise in net profit was "buoyed by a turnaround in petrochemicals segment and increase in profitability of liquid hydrocarbons segment", GAIL said.
The company also registered growth in physical performance in all segments -- petrochemical sales were up by 8 per cent, liquid hydrocarbon by 4 per cent and natural gas marketing and transmission volumes were up by 3 per cent and 2 per cent respectively.
During April-December period of 2016-17, GAIL's net profit was up 133 per cent to Rs 3,243 crore.
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