State-owned gas distribution company GAIL (India) Ltd on Tuesday reported a 33.2 percent jump in third-quarter profit, beating market estimate, buoyed by a surge in revenue from its natural gas marketing segment.
Profit for the quarter ended December 31 came in at Rs 1,681 crore ($234.32 million), compared with a profit of Rs 1,262 crore last year, the company said.
Sixteen analysts on average estimated the company, which also engages in transmission of petrochemicals and liquefied petroleum gas, to post a profit of Rs 1,551 billion rupees in the quarter, according to Refinitiv Eikon data.
GAIL's revenue from operations surged 37.3 percent to Rs 19,789 billion rupees. Revenue from its natural gas marketing segment, which accounts for more than three-fourth of the total, spiked over 46 percent.