GAIL posts 300% rise in profit in H1FY17

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 GAIL, PSU Profit, GAIL Profit
GAIL (India) reported a 180 per cent rise in net profit at Rs 924.65 crore for the quarter ended September 30, 2016, against Rs 330.42 crore reported for the corresponding quarter last year. For the half year ended September 30, 2016, the state-owned gas utility reported a three-fold rise in net profit at Rs 2,259.83 crore against Rs 718.51 crore in the same period last year.
Total income from operations decreased 15.30 pe cent year-on-year to Rs 12,058.22 crore during the quarter under review against Rs 14,240.43 crore reported for the same quarter of last financial year.
Total expenditure jumped to Rs 10,879.79 crore in Q2 of FY17 from over Rs 13,731.28 crore in Q2 of FY16. Profit before tax jumped to Rs 1,375.47 crore from Rs 548.65 crore in the same quarter last year. The company had posted a profit before tax of Rs 1,685.80 crore in the sequential quarter ended June 30, 2016.
For the July-September period, the company reported other income of Rs 316.87 crore, down 0.40 per cent, from Rs 509.15 crore reported for the same period last year.
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