Gail India's Q3FY18 PAT grows by 28% yoy, issues bonus share
On quarterly basis, Gail India's Q3FY18 net profit declined by 3.61% from Rs 1,309.63 crore of the preceding quarter.
Gail India in its third quarter ended December 2017 (Q3FY18) reported a net profit of Rs 1,262.32 crore, rising by a whopping 28.43% compared to Rs 982.92 crore in the corresponding period of the previous year.
However, on quarterly basis, Gail India’s Q3FY18 net profit declined by 3.61% from Rs 1,309.63 crore of the preceding quarter.
Revenue from operations stood at Rs 14,414.34 crore, growing by 17.01% from Rs 12,318.56 crore in Q3FY17, and was also up by 16.15% as against Rs 12,409.65 crore in Q2FY18.
A Bloomberg poll of analysts had predicted Gail India's net profit and revenue at Rs 1,290 crore and Rs 13,750 crore respectively in Q3FY18.
For nine month’s period of FY18, Gail India's net profit amounts to Rs 3,597.49 crore up by 10.94% from Rs 3,242.75 crore a year ago the same period. While revenue stands at Rs 38,394.8 crore, increasing by 9.05% versus Rs 35,208.9 crore of similar period in previous fiscal.
In its meeting held on Monday, Gail India announced that the board of directors have recommended the issuance of 1 bonus share of Rs 10 each for existing 3 equity shares have the same face value - subject to the shareholders’ approval.