GAIL turnover rises by 4 pct

GAIL of India registered an increase of 4% in turnover (net of excise) which rose to Rs 13,337 crore for the first quarter of financial year 2014-15 as against Rs 12,856 crore in the corresponding quarter of the previous year.

Profit before tax stood at Rs 890 crore while profit after tax was Rs 621 crore for the quarter ending June 2014 as against Rs 1,224 crore and Rs 808 crore respectively in the corresponding quarter of the previous year.

During the quarter, the net sales from natural gas marketing increased by 6% to Rs 11,669 crore as against Rs 11,059 crore in the corresponding quarter of the previous year. The revenue from petrochemicals business during the first quarter of the current financial year stood at Rs 993 crore as against Rs 1,103 crore in the corresponding quarter of the previous year while the revenue from natural gas transmission was Rs 660 crore as against Rs 999 crore in the corresponding period.

The net revenue from LPG and other liquid hydrocarbons business during the first quarter of the current financial year increased by 25% to Rs 1,260 crore as against Rs 1,004 crore in the corresponding quarter of the previous year. The revenue from LPG transmission business increased by 18% to Rs 111 crore as against Rs 94 crore in the corresponding previous period.

1 Indian rupee = 0.016337 U.S. dollars

Press Release, August 11, 2014; Image: GAIL