State-run GAIL has announced its results for the quarter ended December 2010. It has reported standalone net profit of Rs 968 crore as against Rs 860 crore, a growth of 12.56% on year-on-year basis (YoY).
Standalone net sales rose 35.19% to Rs 8,365 crore from Rs 6,187.8 crore (YoY).
Numbers were slightly above their estimates; CNBC-TV18 was expecting profit after tax at Rs 945 crore and sales at Rs 7800 crore.
In a press conference GAIL said:
-Profit boosted by gas trading, transmission
-All pipeline projects are on stream as of December 2010
-Will add additional 1500 km pipeline by December 2011
-Successfully completed bond issue of Rs 500 crore recently
