New Delhi [India], February 10 (ANI): GAIL India Ltd said on Wednesday it recorded 13 per cent increase in turnover to Rs 15,386 crore in the October to December quarter versus Rs 13,611 crore in Q2 FY21.
Profit before tax increased by 20 per cent to Rs 1,868 crore as against Rs 1,550 crore and profit after tax too moved up by 20 per cent to Rs 1,487 crore in Q3 as compared to Rs 1,240 crore in Q2 FY21.
Both physical as well as financial performance improved further across all major segments. The physical performance improved by 4 per cent in natural gas transmission, 8 per cent in gas marketing, 3 per cent in LPG transmission, 3 per cent in petrochemical sales and 8 per cent in liquid hydrocarbon sales.
GAIL's petrochemical performance improved further in Q3 and the plant is operating at more than 100 per cent capacity utilisation. On account of better physical performance and price realisation, the profitability of segment increased to Rs 423 crore in Q3 as against Rs 170 crore during Q2.
Manoj Jain, Chairman and Managing Director, said GAIL is trying to accelerate progress in its ongoing projects.
GAIL is India's leading natural gas company with diversified interests across the natural gas value chain of trading, transmission, LPG production and transmission, LNG re-gasification, petrochemicals, and city gas.
It owns and operates a network of around 12,500 km of high-pressure trunk pipelines. (ANI)