GAIL Q3 net up 13%, plans capex of 9k cr for FY13

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GAIL Q3 net up 13%, plans capex of 9k cr for FY13

GAIL has announced its third quarter results. The company's Q3 net profit was down 3.4% at Rs 1,091 crore versus Rs 1094.4 crore.

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Gas Authority of India (GAIL) has posted an 13% rise in its December quarter profit to Rs 1091 crore year-on-year, partly helped by higher sales. Sales for the period also rose 35% to Rs 11260 crore. Shares of the company closed the day marginally down to Rs 369.95

During the quarter, GAIL's revenues from natural gas transmission business increased  9% to Rs 1087 crore. Its petrochemicals business grew 54% to Rs 878 crore, LPG segment revenues too grew 33% to Rs 966 crore.

Meanwhile, while giving an outlook on its capex plans for FY13, the company said it plans to spend around Rs 9000 crore for which it has tied up loans worth Rs 500 crore and will raise USD 100 million by March this year.