GAIL logs 13 gain

GAIL India Ltd Monday reported 13 per cent rise in net profit for the third quarter ended December,as higher gas trading offset 28 per cent jump in fuel subsidy outgo. Net profit in the October-December quarter at Rs 1,091 crore was 13 per cent higher than Rs 968 crore net profit a year ago,GAIL CMD B C Tripathi said.

Growth has been due to three reasons one,gas trading volumes were higher by 4-5 million standard cubic meters per day at 85 mmscmd, he said.