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GAIL net profit at Rs 1001 crore
ENS ECONOMIC BUREAU
NEW DELHI, MARCH 31: Gas Authority of India Limited (GAIL) has posted a whopping 61 per cent jump in profit after tax (PAT) - seven months after gas transportation charges went up by 35 per cent in tune with the partial liberalisation of gas prices.In September, when natural gas prices were pegged to the international prices of a basket of fuel oils, transportation charges along the Hazira-Bijaipur-Jagdishpur (HBJ) pipeline were raised to Rs 1150 per 1000 standard cubic metres (SCM) from Rs 850 per 1000 SCM. The close of the fiscal reveals that during 1997-98 GAIL's earnings from sales increased by 26 per cent to Rs 5738 crore (Rs 4541 crore). Yet the gas transmission company's PAT catapulted by 61 per cent to Rs 1001 crore. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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