GAIL profit zooms 215%
GAIL has reported a robust growth of 215.92 per cent in consolidated fourth-quarter profit to Rs 4,813,88 crore, driven by tax write-backs and a strong operating performance. The company had posted a net profit of Rs 1,523.73 crore in the same quarter of the previous fiscal.
Revenue from operations fell 5.97 per cent to Rs 17,938.08 crore compared with Rs 19,078.39 crore a year ago. The company received a tax credit of Rs 1,215.18 crore during the quarter under review.
The state-owned firm reported a 45.2 per cent rise in consolidated net profit at Rs 9,514.64 crore for the whole of 2019-20 against Rs 6,552.77 crore in 2018-19.
