Press Release 2019
GAIL registered Profit after Tax of Rs. 1,064 crore during Q2 of FY 19-20
New Delhi, November 08, 2019: : GAIL (India) Limited registered a Profit after Tax (PAT) of Rs. 1,064 crore in Q2 FY20 as against Rs. 1,288 crore in the Q1 FY20. Profit Before Tax (PBT) remains at Rs. 1,535 crore in Q2 FY20 as against Rs 1,981 crore in Q1 FY20.
The improved physical performance in the current quarter helped company in maintaining its Gross Turnover at Rs. 18,010 crore as against Rs.18,276 crore in Q1 FY20. The physical performance has improved in Petrochem, LPG transmission, LHC and Gas transmission segments by 59%, 21%, 11% and 3% respectively as compared to Q1 of FY20. The market prices of Petrochemicals and LHC declined by 8% and 25% respectively coupled with lower gas prices in international market which adversely impacted the profits of the company in the Q2 as compared to Q1 FY20.
On half yearly basis, GAIL's Gross turnover remains at Rs. 36,286 crore in HI 2019-20 as against Rs. 36,358 crore in FY 2018-19. PAT is Rs. 2,352 crore in current half year as against Rs.3,222 crore in H1 2018-19.
On consolidated basis, Gross Sales stood at Rs 36,662 crore in H1 FY20 as against Rs 36,708 crore in H1 FY19. PAT was Rs 2,671 crore in H1 FY20 as against Rs 3,232 crore in H1 FY19.
Dr. Ashutosh Karnatak, Chairman & Managing Director, GAIL stated that company's physical performance in Q2 FY20 has been better due to operational efficiency as against Q1 FY20. The petrochemical plant is running at more than 100% capacity. Further, volume of gas transmission is also showing upward trend in a direction to create gas based economy in the country. However, lower prices of Petrochemicals and Liquid Hydrocarbon (LHC), which are determined by international prices, have impacted the profit adversely.