Gail Q3 results: Consolidated net profit jumps 700% to Rs 3,193 cr
State-run gas supplier Gail on Tuesday reported a massive 703 per cent rise in consolidated net profit at Rs 3,193.34 crore in the third quarter (October-December) of 2023-24 (FY24) against Rs 397.59 crore in the year-ago period. Sequentially, its net profit rose 30.75 per cent, up from Rs 2,442.18 crore.
The latest rise in net profits came on a low base as Gail had suffered from disruptions to supply from Russian energy giant Gazprom and higher global gas prices. Case in point, the growth was accompanied by a 3.26 per cent fall in consolidated revenue from operations to Rs 34,767.84 crore in Q3FY24, down from Rs 35,939.96 crore in Q3 FY23.
