Published on 8/11/2019 2:25:05 PM | Source: Dion Global Solutions Ltd

GAIL (India) Q2 net profit down 45.78% at Rs 1064.25 cr

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel 

Download Telegram App before Joining the Channel

The company reported standalone net profit of Rs 1,064.25 crore for the quarter ended September 30, 2019 as compared to Rs 1962.96 crore in the same period last year, registering a year-on-year decline of 45.78 per cent. Net revenue of the company declined moderately by 6.41 per cent at Rs 18,039.92 crore in July-September quarter of this fiscal as against Rs 19,275.32 crore in the corresponding period last year. During July-September quarter, operating expenses increased by 0.79 per cent to Rs 16,477.23 crore from Rs 16,347.77 crore in year ago period. Other Income grew by 20.36 per cent at Rs 440.07 crore versus (Sep'18 Rs 365.64 crore).

Operating Profit slipped by 46.62 per cent to Rs 1,562.69 crore as against Rs 2,927.55 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 42.99 per cent in September quarter. Interest declined by 39.51 per cent y-o-y to Rs 27.50 crore, while Taxation decreased by 49.56 per cent at Rs 471.26 crore (Sep'18 Rs 934.21 crore).