GAIL’s Net Profit Slips 8.5% in Q2, Petrochemicals Output Surpasses Q1 Levels
State-owned GAIL India has posted a consolidated net profit of INR 1,068.16 crore in the quarter ended September 2020, down by about 8.5% from INR 1,167.58 crore in the corresponding period last year. Overall turnover slipped by 23.7% to INR 14,104.80 crore owing to lower gas prices during the quarter. GAIL highlighted about 18% cent improvement in its physical performance by transporting natural gas, 9% in gas marketing, 10% in LPG transmission, 22% in petrochemical sales and 12% in Liquid Hydrocarbon Sales, compared to Q1FY21. Get more info : https://www.chemanalyst.com/NewsAndDeals/NewsDetails/gails-net-profit-slips-85-in-q2-petrochemicals-output-surpasses-q1-levels-3404 The company’s petrochemicals business has witnessed a major upswing with plants operating back to normal levels, registering rise in industrial output by 65 per cent to 221 Thousand Metric Tonnes (TMT) as against 134 TMT in Q1 FY21. As per the details revealed by the company’s Chairman & Managing Director, ...