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GAIL (India) has reported a 6.5 per cent drop in consolidated net profit to Rs 1,897.04 crore for the third quarter of financial year 2020-2021, from Rs 2,029.51 crore in the same quarter of the previous financial year. The firm s total income during the period under review declined 12 pe cent to Rs 15,899.85 crore in the quarter ended December 31, 2020, from Rs 18,094.15 crore a year ago. The company reported the steepest decline, at about 13 per cent, in segment revenue from the Natural Gas Marketing business. Revenue from this vertical, which holds the largest share within GAIL s portfolio, fell to Rs 14,882.74 crores in the third quarter, from Rs 17,157.64 crore in the corresponding period of FY20. ....
BW Businessworld $60 Billion Natural Gas Grid: Challenges and Prospects Despite coming under the bracket of the much-defamed non-recyclable energy source, India needs to invest to reap its benefits. Photo Credit : Reuters Prime Minister Narendra Modi announced an ambitious project of increasing the gas pipeline network from 17,500 km to 34,500km. This project will require an investment of 60 billion dollars, which is approximately 4.5 lakh crores in the Indian Rupees. Such a mammoth expenditure on a novel energy source is the need of the hour. The world is moving to cleaner sources of energy, and investments are directed to non-polluting sources. Natural gas is a naturally occurring hydrocarbon, which is made primarily of methane (CH4), and varying quantities of other Alkanes along with small amounts of carbon dioxide. It is found along with other fossil fuels and escapes while drilling underground for petroleum sources. The gas is thus a non-renewable source ....