November 5, 2018 / 8:58 AM / in 3 months

GAIL (India) second-quarter profit jumps 50 percent, tops estimates

The logo of India's state-owned natural gas utility GAIL (India) Ltd is pictured on its corporate office building in New Delhi, April 26, 2018. REUTERS/Adnan Abidi/Files

(Reuters) - State-run gas utility GAIL (India) Ltd posted a 50 percent jump in second-quarter profit on Monday, boosted by higher revenue from its natural gas marketing business.

Profit came in at 19.63 billion rupees ($268.86 million) for the three months ended Sept. 30, compared with 13.10 billion rupees a year earlier, the company said bit.ly/2zoe4Li.

Analysts on average had expected a profit of 15.31 billion rupees, according to Refinitiv data.

Revenue from operations jumped 55.3 percent to 192.75 billion rupees.

($1 = 73.0125 Indian rupees)

Reporting by Tanvi Mehta in Bengaluru; Editing by Sunil Nair and Subhranshu Sahu

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