Press Releases
[New Delhi, 27th July, 2007]
GAIL (India) Limited
GAIL RECORDS 16% RISE IN NET PROFITS IN Q1
New Delhi, July 27, 2007: GAIL (India) Limited has recorded an impressive growth in its first quarter of the current financial year. The Profit After tax (PAT) has increased by 16 percent to Rs.685 crore in the first quarter of the current financial year as against Rs 592 crore in the corresponding quarter in the previous year. Turnover of the Company (excluding Excise Duty) has increased by 4 percent to Rs. 4,246 crore in the first quarter of 2007-08 as against Rs 4078 crore in the first quarter of the previous financial year. The Profit Before Tax (PBT) has also increased by 14 percent to Rs 969 crore in the first quarter of the current financial year as against the Profit Before Tax of Rs 852 crore in the corresponding quarter the previous year.
GAIL has shared Rs 272 crore towards LPG and Kerosene subsidy in the first quarter of the current financial year as compared to a provisional subsidy of Rs 250 crore during the corresponding period the previous year.
During the quarter, revenues from Petrochemicals business have increased by 41 percent to Rs 778 crore as against Rs 550 crore in the corresponding period of last year. The revenues from LPG transmission during the first quarter of the current financial year have increased by 30 percent to Rs 92 crore as against Rs 71 crore in the corresponding period last year. The revenues from LPG and Liquid Hydrocarbons business during the first quarter of the current financial year have increased by 5 percent to Rs 675 crore as against Rs 641 crore in the corresponding period of last year. The revenues from Natural Gas Trading during the first quarter of the current financial year are Rs 2956 crore as against Rs 2978 crore in the corresponding period of the last year. The revenues from Natural Gas Transmission during the first quarter of the current financial year are Rs 540 crore as against Rs 600 crore in the corresponding period the previous year.
The increase in revenue is mainly due to higher per unit realisation from petrochemicals, the increase in production of Petrochemicals by 29 per cent and increase in LPG transmission by 19 percent during the quarter. The decrease in revenues from Natural Gas Transmission was due to the reduction in Tariff for HVJ and KG basin pipeline networks.
During the first quarter of the current financial year, polymer sales were105000 MT, up by 29 percent from 81,000 MT in the corresponding quarter in the previous year. The LPG transmission during the first quarter of the current financial year was 621,000.MT, up by 19 percent from 522, 000 MT during the corresponding quarter in the previous financial year. The LPG and Other Liquid Hydrocarbon production during the first quarter of the current financial year was 354,000 MT. The Natural gas transmission during the first quarter of the current financial year was 78.69MMSCMD. During the first quarter of the current financial year, the Dahej-Uran- Dabhol pipeline and Jagoti- Pithampur pipeline projects were commissioned.