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Our Bureau

New Delhi , Jan. 28

GAIL (India) Ltd has notched up a net profit of Rs 635 crore for the third quarter of the current fiscal, registering a 64 per cent increase as compared to the corresponding period last year.

The company has recorded sales (net of excise duty) of Rs 3,475 crore in the third quarter, clocking a 20.16 per cent growth as against the same period last year, a statement said here on Friday.

"The net profit of Rs 635 crore is despite bearing the subsidy burden of LPG and kerosene amounting to Rs 363 crore in the third quarter for sharing the under recoveries of oil marketing companies on PDS kerosene and domestic LPG," the statement said.

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