GAIL (India) Ltd.

GAIL India, state owned gas utility is in discussion for several proposals for equity stakes and long-term supply deals in the United States, West Asia and South-east Asia. The company’s strategy is part of the country’s efforts to secure overseas energy supplies to satisfy rising domestic demand.

In separate development, GAIL India is planning to double capacity of Dabhol LNG terminal to 10 million tonne. The terminal, which will take about 45-days to be fully commissioned, is expected to operate at less than 60% of capacity in the absence of a breakwater, which guard ships against high tides.

The company posted a surge of 12.79% in its net profit of Rs 1091.42 crore for the quarter ended December 31, 2011 as compared to Rs 967.63 crore for the same quarter in the previous year. Total income has increased by 31.97% from Rs 8,574.21 crore for Q3FY11 to Rs 11,315.50 crore in the quarter under review.