Gail India's net profit clocks three-folds jump yoy to Rs 1335 crore

Largest gas transmission company - Gail India's net profit for the June quarter ended 2016 (Q1FY17), recorded three-folds jump on the back of robust other income.

The company reported net profit of Rs 1335.18 crore in Q1FY17, growing by 244.03% from Rs 388.09 crore. Photo: Official website

Largest gas transmission company - Gail India's net profit for the June quarter ended 2016 (Q1FY17), recorded three-folds jump on the back of robust other income.

The company reported net profit of Rs 1335.18 crore in Q1FY17, growing by 244.03% from Rs 388.09 crore in the corresponding period of the previous year.

The top-line was also boosted by positive EBITDA and margins.

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Operating profit stood at Rs 1593.28 crore, increasing by 53.80% year-on-year (yoy). While it's operating profit margin (OPM) was at Rs 14.68%, expanding by 649 basis points yoy.

Other income were at Rs 605.40 crore, clocking over six-folds jump (569%) from Rs 90.49 crore a year ago same year.

However, total income from operations were negative. It's total income stood at Rs 10,851.80 crore, declining by 14.13% yoy.

On segment wise revenue break-up, Transimisson service business which involved natural gas rose by 11.57% yoy to Rs 1031.81 crore and liquified petroleum gas (LPG) at Rs 107.64 crore, down by 20.99% yoy.

Going ahead in segment performance, natural gas marketing registered decline of 21.28% yoy to Rs 8328.55 crore. While LPG and liquified hydrocarbons stood at Rs 673.49 crore, down by 29.59% yoy.

Petrochemical segment recorded strong performance by rising 94.80% yoy to Rs 1132.96 crore.

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