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techkenyot.com September 22, 2018


GAIL reports 42% YoY rise in Q2 profit; beats Street estimates

14 November 2017, 07:41 | Elsie Buchanan

GAIL reports 42% YoY rise in Q2 profit; beats Street estimates

GAIL Q2 Profit Soars 41% To Rs1,309.4 Crore

The bank's net non-performing assets (NNPA) increased to Rs. 7,279.6 crore in this period against Rs. 7,185.2 crore NNPA in the second quarter of fiscal 2017, the bank said in a statement.

State-owned construction company National Buildings Construction Corp (NBCC) on Tuesday reported a 31% year-on-year rise in consolidated net profit to Rs 81.23 crore in the July to September period.

GAIL, which owns the biggest natural gas pipeline network in the country, earned Rs 853.48 crore pre-tax profit from gas transmission business in the quarter as compared to Rs 660.74 crore previous year.

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Total expenses of the company declined to Rs 10,775.22 crore in Q2FY18 over Rs 10,999.88 crore in Q2FY17.

"In compliance with RBI".

ET Now poll had predicted net profit of Rs 1,220 in Q2FY18.

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The bank's asset quality deteriorated further in the September quarter of the current fiscal. Income from other sources were up 11.20 per cent to Rs 1,737 crore.

The company had posted a net profit of Rs 34.59 crore in July-September quarter a year ago, Bata said in a BSE filing.

The deposits stood at Rs 5.83 lakh crore by end of second quarter, 2017-18 against Rs 5.67 crore.

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