Indian Public Sector Gas major GAIL India Ltd has registered a net profit before tax at Rs 1,098 crore in the fourth quarter of 2007-08, against Rs 546 crore for the corresponding period in 2006-07.

The profit before tax during the year 2007-08 rose 35% to Rs 3,855 crore from Rs 2,860 crore in 2006-07.

GAIL also plans to invest Rs 3,410 crore ($810 million) during financial year 2008-09 in pipeline project, petroleum chemicals, business development, projects related to telecom, and city gas among others.

Further it also plans to buy five to six liquefied natural gas (LNG) cargoes from the spot market in the last quarter of fiscal 2008/09 for its Dabhol power plant.

Recently, company’s board of directors recommended the payment of final dividend of 60% on the paid-up equity share capital of the company for the financial year 2007-08 subject to approval of shareholders in the Annual General Meeting.