State-owned gas utility GAIL (India) on Wednesday reported 28 per cent jump in March quarter net profit as petrochemical margins soared and gas marketing business turned around on rise in international prices.
Net profit in January-March at Rs 1,907.67 crore is compared with Rs 1,487.33 crore net profit in the same period a year ago, GAIL Chairman and Managing Director Manoj Jain said on a call with reporters.
Higher profitability was mainly due to improved performance of the petrochemical business as well as natural gas marketing and LPG segment, he said.
With the economy rebounding after a stringent Covid lockdown, petrochemical plant operated near full capacity, helping clock 40 per cent higher pre-tax profit at Rs 608 crore.
