State gas utility GAIL India today reported a 20% rise in its March quarter net profit as margins on natural gas sales and transmission more than made up for the loss in the petrochemical business.
Net profit in January-March at ₹1,222.23 crore, or ₹4.98 per share, was 19.70% higher than ₹1,020.92 crore, or ₹4.53 a share, net profit in the same period of the previous fiscal year, the company said in a regulatory filing.
Revenue rose to ₹18,763.87 crore in the fourth quarter of 2018-19 fiscal year when compared with ₹15,430.69 crore net profit in the year-ago period.
The board of GAIL also approved a 1:1 bonus issue of one free share for every share held.
