GAIL energises quarterly profit by 68% to Rs 940 crore
GAIL (India) Limited registered a 68 % increase in its Profit Before Tax (PBT) in the fourth quarter of Financial Year 2015-16 as it rose to Rs 940 crore from Rs 558 crore in the corresponding quarter of the last fiscal. GAIL’s Profit After Tax (PAT) for the fourth quarter also increased by 51% to Rs 770 crore against Rs 511 crore in the corresponding quarter of the previous year. GAIL’s PAT was also up in the fourth quarter by 16 % from Rs 664 crore to Rs 770 crore over third quarter of this financial year.
The increase in net profit during Q4 of Financial Year 2015-16 as against the corresponding period of the last year was mainly due to increase in Natural Gas sales and transmission volumes. During the quarter, revenues from Natural Gas transmission business increased by 11% to Rs 1,028 crore as against Rs 926 crore in the corresponding period of the previous fiscal.
Natural Gas sales stood at 74.41 mmscmd, an increase of 8% over corresponding quarter of previous year. The Natural Gas transmission during the fourth quarter of the current financial year was 95.31 mmscmd, an increase of 11% from 86.15 mmscmd in the corresponding period last year.
GAIL’s turnover (net of excise duty) in FY 16 stood at Rs 51,614 crore as against Rs 56,569 crore in the last financial year. The Profit Before Tax during 2015-16 was Rs 3,173 crore as against Rs 4,284 crore in the previous year, while Profit After Tax was Rs 2,299 crore as against Rs 3039 crore in the previous year.
Revenues from Natural Gas transmission business was higher by 19% to Rs 3,992 crore as against
Rs 3,349 crore in the last year. Revenues from LPG transmission also rose 10% to Rs 486 crore as against Rs 441 crore earlier. Natural Gas transmission remained steady of around 92.09 mmscmd while Natural Gas sales were 73.67 mmscmd, a slight increase from 72.07 mmscmd earlier.
The decrease in net profit during the current financial year was mainly due to lower price realization of Petrochemicals and Liquid Hydrocarbons along with higher interest and depreciation cost due to capitalization of Petrochemical Plant at Pata (UP) and Vijaipur (MP).