GAIL posts 15% rise in Q1 profit

State-owned gas utility GAIL India Ltd on Monday reported 15 per cent increase in net profit in the quarter ended June 30, 2012, as its fuel subsidy burden rose marginally.

GAIL net profit in April-June quarter at Rs 1,134 crore was 15 per cent higher than Rs 985 crore in the year ago period.

The company paid Rs 700 crore towards LPG subsidy in the first quarter of the current financial year as compared to Rs 682 crore a year ago.

Turnover rose 25 per cent to Rs 11,089 crore.