August 10, 2018 / 9:07 AM / in 3 months

GAIL (India) quarterly profit jumps 23 pct, beats estimates

Aug 10 (Reuters) - State-run gas utility GAIL (India) Ltd reported a 23 percent rise in first-quarter profit on Friday and beat analysts’ estimates.

Profit was 12.59 billion rupees ($182.61 million) in the three months ended June 30, compared with 10.26 billion rupees a year earlier, the company said bit.ly/2MwRh5n in a filing.

Analysts on average had expected a profit of 11.93 billion rupees, according to Thomson Reuters I/B/E/S.

Revenue from operations rose about 50 percent to 172.99 billion rupees. ($1 = 68.9450 Indian rupees) (Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)

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