GAIL’s Q2 standalone net profit rises 16.5% to ₹1,240 cr
New Delhi: Gas transporter GAIL (India) Ltd on Tuesday reported 16.5% jump in standalone net profit at ₹1,240 crore for the quarter ending 30 September, 2020. It was ₹1,064 crore in the year-ago period.
However, standalone revenue from operations declined 24% to ₹13,644 crore from ₹18,041 crore a year ago.
At 2:25 pm on Tuesday, GAIL’s scrip on NSE was trading 3.2% higher at ₹89.35.
The company’s board on Tuesday approved borrowing upto ₹10,000 crore by issuing Secured/Unsecured, Redeemable, Non-convertible Bonds.
Turnover slipped 23.7% to ₹14,104.80 crore largely due to lower gas prices during the quarter.
