From correspondents in Delhi, India, 08:00 PM IST

GAIL India Ltd, formerly Gas Authority of India Ltd, Tuesday announced a 30 percent increase in net profits in the first quarter of 2008-9, compared to the corresponding period last year.

In a regulatory statement, GAIL said it posted a net profit of Rs.8.9 billion this quarter, compared to Rs.6.8 billion last year.

Similarly, GAIL's total income has also risen from Rs.43.3 billion in 2007 to Rs.58.4 billion this year - an increase of 34.8 percent.

(Staff Writer, © IANS)