By Malvika Gurung
Investing.com -- The country’s largest natural gas company GAIL (NS: GAIL ) released its earnings results for the June 2022 quarter on Thursday, reporting an over 50% rise in net profit on a YoY basis.
The Maharatna company’s consolidated net profit jumped 51% YoY to Rs 3,250.95 crore during the Apr-Jun quarter, while sliding 6.4% on a sequential basis.
The rise in bottomline was led by bumper earnings from natural gas marketing.
The gas major’s revenue from operations rallied 116% to Rs 37,572 crore in the June quarter, compared to Rs 17,387 crore in the year-ago period.
Its turnover jumped 114.85% to Rs 38,033.3 crore on a YoY basis, while pre-tax profit from natural gas marketing soared 415.3% YoY to Rs 2,317.9 crore in the quarter under review and 17.3% sequentially.
The margin on gas marketing made up for a 12.5% decline in earnings from the gas transportation business and a 74% drop in petrochemicals earnings.
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