GAIL (India) Ltd.

State-run gas utility - GAIL (India) has formed a wholly owned subsidiary of the company with the name of ‘GAIL Global (USA) Incorporation’. Recently the company was likely to open up a trading desk in Singapore in the next few months that could eventually seek outside customers. Since company’s requirements are growing, it plans to activate its subsidiary as a trading arm in a matter of a couple of months.

Gail is India’s flagship natural gas company integrating all aspects of the natural gas value chain including exploration and production, processing, transmission, distribution and marketing and related services.

The company’s net profit for the quarter ended June 30, 2011 has increased by 11.03% at Rs 984.67 crore as compared to Rs 886.88 crore for the same quarter last year. Its total income increased by 24.99% to Rs 8953.65 crore for the quarter under review from Rs 7163.50 crore for the corresponding quarter of the previous year.