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GAIL net profit up 40% on back of margin boost in natural gas sales

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GAIL net profit up 40% on back of margin boost in natural gas sales

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Revenue from operations rose to Rs 26,968.21 crore from Rs 15,549.07 crore in January-March 2021. For the full fiscal ending March 31, the company reported its highest ever net profit of Rs 10,363.97 crore, against Rs 4,890.18 crore in the previous year.

GAIL net profit up 40% on back of margin boost in natural gas sales
State gas utility GAIL India Ltd on Friday reported a 40 percent year-on-year (YoY) jump in net profit at Rs 2,683.11 crore for the fourth quarter ended March 31, 2022.
In the corresponding quarter last year, the company posted a net profit of Rs 1,907.67 crore. CNBC-TV18 Polls had predicted a profit of Rs 3,604 crore for the quarter under review.
Revenue from operations rose to Rs 26,968.21 crore from Rs 15,549.07 crore in January-March 2021. For the full fiscal ending March 31, the company reported its highest ever net profit of Rs 10,363.97 crore, against Rs 4,890.18 crore in the previous year.
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Pre-tax earnings from natural gas marketing jumped to Rs 1,725.93 crore in the fourth quarter of 2021-22, up from Rs 280.89 crore a year back.
The company's board recommended the payment of a final dividend of Re 1 per equity share, subject to the approval of shareholders in the ensuing Annual General Meeting.
At 3.20 PM IST, the shares of GAIL India were trading at Rs 142.90, down 8.10 percent on BSE Sensex.
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