NEW DELHI: State-run gas utility GAIL on Wednesday displayed Coronavirus immunity by posting a net profit of Rs 3,018.20 crore in the fourth quarter of 2019-20, marking a 169% jump from the year-ago period.
Company chairman Manoj Jain said on a standalone basis, GAIL’s net profit for the full financial year stood at Rs 6,621 crore, up 10% from Rs 6,026 crore in 2018-19.
As a group, GAIL’s consolidated net profit stood at Rs 4,813.88 crore in the quarter under review, marking a 216% increase from Rs 1,523.73 crore in the previous corresponding period.
The sterling result was aided in no small measure by a deferred tax credit of Rs 1,215.18 crore and adoption of a lower tax regime. The stock gained over 2% to close at Rs 101.35 on the BSE.
