GAIL profit up 6-fold on higher sales, margins
NEW DELHI: Country’s largest natural gas company GAIL India on Thursday reported a six-fold year-on-year increase in its net profit for the first quarter ended June 2021 (Q1FY22), boosted by higher sales and better margins. The company recorded a net profit of Rs 1,529.92 crore during the quarter, against Rs 255.51 crore a year ago.
However, while profits surged on a year-on-year basis, they stood nearly 20% lower compared to the previous quarter ended March 2021. This sequential fall was primarily driven by the impact of the second Covid-19 wave, which was less severe than the initial outbreak last summer.
