India: GAIL Net Profit Down

GAIL (India) Limited registered an increase of 16% in Turnover (Net of Excise) which rose to Rs 12,856 crore for the first quarter of Financial Year 2013-14 as against Rs 11,089 crore in the corresponding quarter of the previous year.

Profit Before Tax for the quarter ending June 2013 stood at Rs 1,224 crore while Net Profit was Rs 808 crores as against Rs 1,685 crore and Rs 1,134 crore respectively in the corresponding period of the previous year.

During the quarter, revenue from Natural Gas Trading increased by 20% to Rs 11,059 crore as against Rs 9,242 crore in the corresponding quarter of the previous year. The revenue from Petrochemicals business during the first quarter of the current financial year increased by 92% to Rs 1,103 crore as against Rs 574 crore in the corresponding quarter of the previous year while the revenue from Natural Gas Transmission increased by 9% to Rs 999 crore from Rs 915 crore.

The net revenue from LPG and other Liquid Hydrocarbons business during the first quarter of the current financial year stood at Rs 1,004 crore as against Rs 1,072 crore in the corresponding quarter of previous year while the revenue from LPG transmission business was Rs 94 crore as against Rs 114 crore in the corresponding period.

The increase in revenue is mainly due to higher sale of Spot LNG volume, increase in production and sale of Petrochemicals.

Polymer sales during the first quarter of FY 2013-14 increased by 83% to 121,000 metric tonnes (MT) against 66,000 MT during the corresponding quarter in the previous year. LPG and other Liquid hydrocarbons sales increased by 9% to 350,000 MT as against 322,000 MT in the corresponding quarter of the previous year. The quantity of polymer production increased by 46% to 117,000 MT as against 80,000 MT, LPG and other Liquid hydrocarbons production increased by 7% to 349,000 MT as against 327,000 MT in the corresponding quarter of the previous year. The Natural Gas Transmission during the first quarter of the current financial year was 99.32 MMSCMD as against 109.82 MMSCMD in the corresponding quarter of the last year. The LPG transmission during the first quarter of the current financial year stood at 699,000 MT as against 845,000 MT during the corresponding quarter in the previous financial year.

1 Indian rupee = 0.016946 U.S. dollars