GAIL Q1 net up 16

State-run gas utility GAIL India has reported a 16 per cent rise in net profit in the first quarter of current fiscal despite higher costs on subsidising auto and cooking fuel. Net profit rose to Rs 685 crore in April-June period from Rs 592 crore a year ago. Sales rose 4 per cent to Rs 4,246 crore.

During the quarter, revenue from petrochemicals business increased by 41 per cent to Rs 778 crore while that from LPG transmission rose 30 per cent to Rs 92 crore. Revenue from natural gas trading during the first quarter dipped to Rs 2,956 crore as against Rs 2,978 crore in the year ago period. Earning from natural gas transmission fell to Rs 540 crore from Rs 600 crore in April-June 2006.