Tuesday, 16 January, 2018

GAIL reports 42% YoY rise in Q2 profit; beats Street estimates

GAIL reports 42% YoY rise in Q2 profit; beats Street estimates GAIL reports 42% YoY rise in Q2 profit; beats Street estimates
Hannah Rogers | 14 November, 2017, 20:41

"The company has reported an improved financial performance during the quarter as well as half year ended September 2017".

BASF India today reported a turnaround with net profit of Rs 172.91 crore in the September quarter due to new product launches in agricultural solutions business and volume growth in other segments.

In absolute value, gross NPAs were Rs 46,306.83 crore during the quarter against Rs 42,949.25 crore.

Earnings from natural gas marketing rose 27 per cent to Rs 419.74 crore while the same from petrochemical business almost halved to Rs 88.81 crore.

Also, the bank said it made an additional provision of Rs 22.06 crore in respect of standard advances to stressed sectors of the economy.

"In compliance with RBI".

The bank's asset quality deteriorated further in the September quarter of the current fiscal. "Remaining Rs 325.89 crore will be provided in next two quarters as permitted under RBI directions", the bank said.

Total consolidated income during the quarter stood at Rs13,935.18 crore.

On Tuesday, shares of Grasim Industries fell 1.06% to Rs1,209.05 on BSE while the benchmark Sensex shed 0.28% to end the day at 32,941.87 points.

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