GAIL has posted a 46 per cent rise in third-quarter profit aided by a boost in the petrochemicals business.
Profits rose to Rs 983 crore in the October-December quarter from Rs 676 crore a year ago. Sales fell 9 per cent to Rs 12,294 crore on a drop in natural gas sales. The revenue from natural gas marketing dropped by 20 per cent to Rs 9,414 crore and profit fell 38 per cent to Rs 300 crore in the quarter.
The revenue from the petrochemicals business jumped 75 per cent to Rs 1,406 crore. The segment also turned a profit of Rs 134 crore, against a loss of Rs 163 crore in the year-ago quarter.
In terms of volumes, petrochemical sales were up 8 per cent and liquid hydrocarbon was up 4 per cent.