GAIL India Ltd today reported a 3.42 per cent rise in net profit for the third quarter ended December 31 at Rs 665 crore against Rs 643 crore during the same period last year.
Turnover (net of Excise Duty) went up 12 per cent to Rs 4,378 crore during the reporting quarter over the turnover in the corresponding period previous year.
"The increase in the net profit was despite the increased share of LPG subsidy in the third quarter of the current financial year," GAIL said in a statement.
The LPG subsidy during the period increased by over 53 per cent to Rs 315 crore compared to Rs 206 crore in the corresponding previous period.
Net profit for the nine month period ended December 31, 2006, was Rs 1,706 crore against Rs1,901 crore in the corresponding previous period.
During the period, the company registered a 13 per cent increase in net sales of Rs 12,164 crore, as against net sales of Rs 10,800 crore in the previous period.
The increase in turnover was achieved despite the fact that gas supply was affected for one month in the second quarter in the current financial year and higher burden of LPG subsidy to the extent of Rs 460 crore i.E. From Rs 526 crore to Rs 986 crore, GAIL said.
GAIL has already declared a 55 per cent interim dividend for the financial year 2006-07.
Harvard students condemn Oxford University
Publish Date : 3/5/2007 7:11:00 AM
Two Harvard students, including an NRI, have condemned Oxford University, where they are Rhodes scholars, as "outdated" and "frustrating" and dismissed its world famous Bodleian library as "less than inspiring".
Indian embassy to outsource jobs to American firm
Publish Date : 3/5/2007 7:10:00 AM
After taking thousands of American jobs through outsourcing, India is planning to give a few back. The Indian embassy in the US capital is planning to outsource processing of visas to a US-based company.
Badal heads 18-member coalition ministry in Punjab(Final lead: Badal)
Publish Date : 3/3/2007 7:29:00 AM
Octogenarian leader of the Shiromani Akali Dal (SAD) Parkash Singh Badal, on Friday took oath as Punjab's new Chief Minister and will lead an 18-member SAD-Bharatiya Janata Party (BJP) coalition ministry.
Bareilly eunuch adopts a girl child
Publish Date : 3/3/2007 7:22:00 AM
It was a day of celebration for Saroj, a eunuch in Bareilly in Uttar Pradesh, as 'she' has become a 'mother' by adopting a baby girl.
Kalam offers prayer at Fatehpuri Masjid
Publish Date : 3/3/2007 7:16:00 AM
Keeping a promise made two years ago, President A P J Abdul Kalam today offered prayers at the historic Fatehpuri Masjid in Chandni Chowk here along with thousands of Muslims.
Union Budget directionless, says Modi
Publish Date : 3/1/2007 8:41:00 AM
Gujarat Chief Minister Narendra Modi today criticised the Union Budget by terming it as "directionless".
Centre allocates over Rs 100 crore for minority zones
Publish Date : 3/1/2007 8:38:00 AM
Unfazed by the BJP's criticism over its welfare schemes for Muslims, the Congress-led Central Government has allocated over Rs 100 crore for development programmes in select districts with a sizeable population of minorities.
Kins of political bigwigs fail to find voters' favour
Publish Date : 3/1/2007 8:27:00 AM
The assembly polls in Punjab turned out to be unkind for several kins of political bigwigs as voters rejected most of them barring some of Shiromani Akali Dal (SAD) supremo Parkash Singh Badal's near and dear ones.
High Court order on age of nursery admission tomorrow
Publish Date : 3/1/2007 8:24:00 AM
The Delhi High Court today observed that the city Government's submission that a child should be four-years-old to get admission in nursery class was contrary to the law.
Parliament session may be stormy tomorrow on Quattrocchi issue
Publish Date : 3/1/2007 8:18:00 AM
After the lull, it is going to be storm again in Parliament tomorrow.
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