Press Releases
GAIL registers a growth of 33% in net profits upto third quarter. GAIL declares 60 per cent interim dividend
GAIL (India) Limited
(New Delhi, January 12, 2006)
New Delhi, January 12, 2006GAIL (India) Limited has recorded a net sales of Rs. 10,800 crores upto the third quarter of financial year 2005-06 from Rs. 9,127 crores in the previous year, registering a growth of 18 per cent. The Net profit upto third quarter is Rs. 1901 crores as compared to Rs. 1430 crores during the same period last year, registering a growth of 33 per cent. During the third quarter, the sales have gone up by 23 per cent to Rs. 3911 crores from Rs.3172 crores during third quarter of 2004-05. The net profit of the quarter has grown up to Rs. 643 crores from Rs. 635 crores during third quarter of 2004-05.
The natural gas transmission during the third quarter of FY 2005-06 is 81.41 MMSCMD which is 11 per cent more than the natural gas transmission during the third quarter of previous year. The petrochemical production was 78,000 MT during the third quarter of FY 2005-06, registering a growth of 3 percent over the same period last year. The petrochemical sale was 75,000 MT during the third quarter of FY 2005-06, registering a growth of 9 percent over the same period last year.
LPG transmission during the quarter was 5.43 lakh MT, a decrease of 10 % mainly due to shut down of Jamnagar Refinery and LPG production was 2.69 lakh MT, a decrease of 5 percent over the same period last year mainly due to low gas availability. LPG and Kerosene subsidy burden in the quarter is for Rs. 206 crores as compared to Rs.369 crores last year. The subsidy burden up to third quarter is for Rs. 526 crores as compared to Rs. 864 crores during the last year.
GAIL has also declared an interim dividend at the rate of 60 per cent on the paid –up equity share of Rs. 845 .65 crores (i.e. Rs. 6/- per share ), excluding Corporate Dividend Tax, for the financial year 2005-06. During the previous financial year, the Company had paid an interim dividend @ 40% followed by a final dividend @ 40%, on the paid-up equity share capital. The dividend will be paid to the shareholders of the company from 18th January, 2006 and onwards, with reference to the ‘Record Date’ of 17th January, 2006, fixed for the said purpose.