The company has posted net profit of Rs.731.01 crores for the period ended September 30, 2017 as against Rs.12.18 crores for the period ended September 30, 2016.
The firm transported and marketed 5% more gas volumes in the July-September quarter, the statement said.
GAIL's PAT in the second quarter of FY 2017-18 rose by 28% vis-à-vis the first quarter of current financial year, from Rs. 1,026 crore to Rs. 1,310 crore largely on account of better performance in Natural Gas Transmission and Natural Gas Marketing segment. Earnings from natural gas marketing rose 27% to Rs419.74 crore while the same from petrochemical business almost halved to Rs88.81 crore.
"As a result of continued focus on value added products and efficiencies in cost structure, net profit for the quarter ended September 30, 2017 of Rs 42.9 crores has increased by 24 per cent over the corresponding period a year ago", the company said in a statement.
Revenue dropped marginally by around 1per cent to Rs12,409.65 crore. Profit before Tax (PBT) during Q2FY18 was at Rs 1,241 crore, showing a rise of 19% over a PBT of Rs 1,044 crore in Q2FY17.
GAIL's share price at the Bombay Stock Exchange (BSE) today closed at Rs 456.45, up 0.26 per cent as compared to previous close.