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GAIL (India) posted a net profit of Rs 1,133.78 crore for the April-June quarter, up 15.14 per cent from Rs 984.67 crore in the same period last year.
Total income has increased to Rs 11,149.8 crore (Rs 8,953.65 crore), it said in a statement to the BSE.
GAIL contributed Rs 700 crore (Rs 681.92 crore last year) as compensation to the public sector oil marketing companies in the first quarter of 2012-13.
The public sector company is in the final stages of mopping up $450 million via overseas loan.
It will spend the funds as part of its capital expenditure, GAIL Chairman and Managing Director, Mr B.C. Tripathi, told newspersons.
It targets to spend Rs 7,354 crore during 2012-13 to expand its pipeline network. Out of this, GAIL would borrow Rs 4,045 crore, while the remaining would be funded from internal accruals, said Mr Tripathi.
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