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India's GAIL beats Q2 revenue view on natgas marketing increase

Gas distributor GAIL (India). published a biggerthanexpected quarterly revenue on Tuesday,. helped by strength in its gas marketing company.

India's top natural gas supplier by market share said its. net revenue after tax rose 11% to 26.72 billion rupees ($ 317.8. million) for the September quarter. Experts, usually,. expected earnings of 25.99 billion rupees, according to information. assembled by LSEG.

Experts expected GAIL to take advantage of a strong boost in. gas transmission and trading volumes in the middle of total lower domestic. gas prices.

GAIL provides about 52% of the gas offered in the. nation and mainly serves the power and fertilizer sectors.

The business's profits from the gas marketing sector, which. concentrates on the wholesale trading and circulation of natural gas. and represent the bulk of its general earnings, increased 3.7% to. 287.47 billion rupees.

Profits from its gas transmission section, which. holds a 70% market share in the nation, increased 12.1% to. 28.46 bln rupees.

The company's income from operations rose by 3.5% to 329.31. billion rupees.

GAIL's shares closed 0.1% greater ahead of the outcomes and. are up 21% for the year so far.

(source: Reuters)