Doubling net profit at GAIL

Vol 4, PW 13 (02 Aug 00) News in Brief

Similar good news for Gas Authority of India, which has announced a doubling of net profit to Rs280cr ($65m) over Rs135cr ($31m) recorded in the same period last year.

Sales also showed a healthy rise, increasing from Rs1,600cr ($372m) between April and June last year to Rs2,400cr ($560m) this year. "The increased turnover and profits are mainly due to the increase in volumes in all segments in which the company operates: natural gas, LPG and petrochemicals," said the note.

Highlights of the first quarter were the successful completion of the Jamnagar-Loni LPG pipeline, the Gandhar LPG complex and expansion of the gas network in the Cauvery basin, said GAIL.