Millennium Post
Business

GAIL regales slow economy with excellent Q3 results

The company  registered a rise in its turnover (net of excise duty) by 28 per cent for the third quarter of the financial year 2013-14 which stood at 15,980 crore  as against to Rs. 12,474 crore in the corresponding period last fiscal. The gross margin of the company increased by 16 per cent to Rs. 2,498 crore as against to Rs. 2,156 crore.

The  chairman and managing director of GAIL India, B C Tripathi declared the segment-wise revenue of the third quarter of the current financial year. Revenues from LPG and liquid hydrocarbons business increased by 51 per cent to Rs. 1,933 crore as against to Rs. 1,277 crore. The sales from natural gas trading increased by 31 per cent to Rs. 13,287 crore as against to Rs. 10,118 crore in the same period of last financial year.

Company’s natural gas transmission business increased by 20 per cent to Rs. 1,189 crore as against to Rs. 990 crore. The net sales of LPG transmission during the third quarter  of the current financial year has increased by  41 per cent to Rs. 114 crore as against Rs. 81 crore in the last fiscal.
 
The net sales from petrochemicals business have increased by 5 per cent to Rs. 1,164 crore as against Rs. 1,107 crore.  Commenting on the increase in revenue BC Tripathi said that the increase in revenue is because of the high prices of gas. Further revealing the physical performance of the company during the second quarter of the current financial said that the the natural gas sales stood at 79.74 MMSCMD as against 81.77 MMSCMD during the corresponding period previous year. GAIL’s  petrochemical production was 122 TMT, as against 126 TMT in the corresponding period last fiscal. The polymer sales during the third quarter of the current financial year were 109 TMT, as against 128 TMT. The LPG transmission was up by 21 per cent from 733 TMT to 855 TMT.

The LPG and other liquid hydrocarbon production was 332 TMT against 340 TMT in the previous financial year. The natural gas transmission stood  at 95.70 MMSCMD  against 104.50 MMSCMD
in the corresponding period of the last fiscal.
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