GAIL's Q3 net up 18% on higher volumes

GAIL's   December quarter profit rose around 18 percent year-on-year to Rs 1284.86 crore, partly boosted by other income. Sales also rose around 11 percent year-on-year to Rs 12474.25 crore.

The company said it gave Rs 700 core discount to oil retailers for selling liquefied petroleum gas (LPG) at subsidised rates. It also kept an excess provision of Rs 2100 crore for similar purpose.

While the state-run company's other  income rose to Rs 154 from Rs 21.35 crore YoY, its interest cost too more than doubled to Rs 55.18 crore YoY.

During the quarter, the operating profit margin decreased 7 bps to 14.07 percent YoY but better volumes contributed to higher profit.

The company's natural segment revenues rose around 11 percent YoY to Rs 10118 crore, Petchem business sales rose 26 percent to Rs 1106.98 crore. LPG vertical's revenues also grew around 32 percent to Rs 1277.20 crore.

Shares of the company closed the day at 334.35, up 1.97 percent.

Did you read: Mkt may go below 5900: Sell Cairn & GAIL, says Sukhani