GAIL shares in focus after $285 million settlement with SEFE Marketing, case withdrawn in London
The settlement, finalised on Wednesday, involves SEFE Marketing paying $285 million to GAIL (India), marking a resolution to the dispute. The agreement also includes the withdrawal of the arbitration proceedings before the London Court of International Arbitration.
«The terms of the Settlement Agreement include payment of US$ 285 million by SEFE Marketing & Trading Singapore Pte. Ltd. to GAIL (India) Limited and withdrawal of arbitration proceedings before London Court of International Arbitration,» the company said in an exchange filing.
Also Read: Q3 results today: RIL, Infosys among 37 companies to announce earnings on Thursday
GAIL Q2 FY25 earnings
GAIL reported an 11% year-on-year (YoY) increase in profit in the quarter to September to Rs 2,672 crore as improved performance in petrochemicals and gas transmission helped offset a poor show in gas marketing. Its revenue from operations increased 3.5% YoY to Rs 32,931 crore in the July-September period.
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