Gas Authority of India Limited (GAIL) witnessed a higher quarterly net profit in three months from October to December 2021 as a result of rise in natural gas prices. With an improvement in its margins, GAIL had a net profit of Rs. 32.88 billion in October-December 2021, more than double as compared to a profit of Rs. 14.87 billion during the corresponding period in the previous year.
Further, on account of improved gas marketing spread, better product prices and improved operating efficiency in petrochemicals and liquid hydrocarbons, GAIL surpassed all parameters of financial performance in the third quarter of the financial year 2021-22.