India: Gail Profit Climbs

July 30, 2012

GAIL (India) Limited registered an increase of 25% in Turnover of Rs. 11,089 crore in the 1st quarter of FY 2012-13 against Rs. 8,867 crore in the corresponding previous year quarter.

The Profit before Tax increased by 17% to Rs. 1,685 crore in the 1st quarter of the current financial year against Rs. 1,443 crore in the corresponding quarter of previous year. The Net Profit during the 1st quarter of FY 2012-13 increased by 15% to Rs. 1,134 crore against Rs.985 crore in the corresponding previous year quarter.

GAIL has shared Rs. 700 crore towards LPG subsidy in the first quarter of the current financial year as compared to Rs. 682 crore during the corresponding previous year quarter.

During the quarter, the net sales from Natural Gas Trading increased by 28 percent to Rs. 9,242 crore as against Rs. 7,205 crore in the corresponding quarter of the previous year. The revenue from Natural Gas Transmission during the first quarter of the current financial year has decreased by 2% to Rs. 915 crore as against Rs. 939 crore in the corresponding quarter of the previous year. The net sales from LPG and other Liquid Hydrocarbons business during the first quarter of the current financial year have increased by 32 percent to Rs. 1,072 crore as against Rs. 814 crore in the corresponding quarter of previous year. The revenue from LPG transmission remain flat at around Rs. 114 crore.

The increase in revenue is mainly due to higher sale of Spot LNG volume, increase in sales price of LPG and Liquid hydrocarbons & Petrochemicals.

The Natural gas transmission during the first quarter of the current financial year was 109.82 MMSCMD as against 117.16 MMSCMD in the corresponding quarter of the last year. The quantity of polymer sales was 66TMT against 88 TMT during the corresponding quarter in the previous year, LPG and other Liquid hydrocarbons sales were 322 TMT as against 349 TMT in the corresponding quarter in the previous year. The LPG transmission during the first quarter of the current financial year was 845 TMT as against 817 TMT during the corresponding quarter in the previous financial year. The quantity of polymer production was 80 TMT as against 109 TMT, LPG and other Liquid hydrocarbons production were 327 TMT as against 350 TMT in the corresponding quarter in the previous year.

1 Indian rupee = 0.01802 U.S. dollars

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LNG World News Staff, July 30, 2012