GAIL Q3 profit seen up 4% to Rs 959cr, petchem biz may be strong

Country's largest gas transmission and marketing company, GAIL is expected to post solid earnings on higher petrochemical business and a marginal improvement in gas transmission volumes.

Profit during the quarter is seen rising 3.7 percent quarter-on-quarter to Rs 959 crore and revenue may grow 2.9 percent to Rs 12,404 crore, according to average of estimates of analysts polled by CNBC-TV18.

Petchem profitability is likely to be strong owing to higher volumes.

Operating profit is expected to increase 9.8 percent sequentially to Rs 1,686 crore and margin may expand 130 basis points to 14 percent in the quarter gone by.