GAIL Q2 net profit down 10% to Rs 985 cr

India's largest gas transmission and marketing company GAIL  's net profit fell by 10% year-on-year to Rs 985 crore in the second quarter of financial year 2012-13.

Net sales increased 17% to Rs 11,361.2 crore from Rs 9,699 crore during the same period.

Analysts on an average had expected net profit of Rs 1,065 crore on net sales of Rs 11,280 crore for the quarter.

Other income went up to Rs 236.8 crore from Rs 116 crore YoY.

Subsidy payout during the quarter stood at Rs 786 crore as against Rs 566.6 crore in the corresponding quarter of last fiscal.

Revenue of Rs 123 crore has been derecognized during the quarter in view of revision of LPG pipeline tariff by PNGRB.

Earnings before interest, tax, depreciation and amortization (EBITDA) declined to Rs 1,412 crore from Rs 1,675.5 crore during the same period.

GAIL said the company was likely to commission Dabhol LNG terminal by January 2013. "We are still evaluating share buy in Reliance Gas Transportation," the company said.

At 14:36 hours IST, the share rose just 0.28 percent to Rs 361.45 amid high volumes on the Bombay Stock Exchange.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal 

Head Dealer 

DENIP Consultants Pvt Ltd