Gail India net profit zooms 57% to Rs 972 cr in Q4 FY 14
27/05/2014 11:18
State-run gas utility major, GAIL India Ltd has reported 57 per cent growth in the fourth-quarter net profit at Rs 972 crore on the back of better petrochemical and LPG prices and drop in subsidy outgo. The company had posted a net profit of Rs 618 crore in the corresponding quarter last year, the company said in a filing to the Bombay Stock Exchange. In Q4 FY 14, the total income of the company has increased 17.6 per cent from Rs 12740.29 crore for the quarter ended March 31, 2013 to Rs 14977.89 crore for the quarter ended March 31, 2014. According to the reports, net profit was up as the company realised Rs 96,000 per ton price for petrochemicals it produces, against Rs 82,000 a ton in the previous fiscal, as well as price realisation on LPG also increased by 8 per cent to Rs 56,000 a ton. “During Q4, gas transmission volumes were down and so was gas marketing due to fall in production at Panna/Mukta and Tapti field (in western offshore) and east coast (KG-D6) field,” Gail India, Chairman and Managing Director, B C Tripathi told media. Natural gas sale fell to 76.26 million standard cubic meters per day from 80.13 mmscmd in Q4 2012-13 while fuel transportation volumes fell to 94.66 mmscmd from 99.49 mmscmd. During the fourth quarter, the petrochemical production was 83,000 tons as against 119,000 tons in the corresponding quarter last year. Turnover was up 17 per cent to Rs 14,464 crore. On year-on-year basis, the company posted 9 per cent growth in the net profit at Rs 4375.27 core as compared to Rs 4022.2 crore in the same quarter a year ago. For the Year ended March 31, 2014, total income of the company increased from Rs 48287.20 crore for the year ended March 31, 2013 to Rs 58406.45 crore.
27/05/2014 11:18
State-run gas utility major, GAIL India Ltd has reported 57 per cent growth in the fourth-quarter net profit at Rs 972 crore on the back of better petrochemical and LPG prices and drop in subsidy outgo. The company had posted a net profit of Rs 618 crore in the corresponding quarter last year, the company said in a filing to the Bombay Stock Exchange. In Q4 FY 14, the total income of the company has increased 17.6 per cent from Rs 12740.29 crore for the quarter ended March 31, 2013 to Rs 14977.89 crore for the quarter ended March 31, 2014. According to the reports, net profit was up as the company realised Rs 96,000 per ton price for petrochemicals it produces, against Rs 82,000 a ton in the previous fiscal, as well as price realisation on LPG also increased by 8 per cent to Rs 56,000 a ton. “During Q4, gas transmission volumes were down and so was gas marketing due to fall in production at Panna/Mukta and Tapti field (in western offshore) and east coast (KG-D6) field,” Gail India, Chairman and Managing Director, B C Tripathi told media. Natural gas sale fell to 76.26 million standard cubic meters per day from 80.13 mmscmd in Q4 2012-13 while fuel transportation volumes fell to 94.66 mmscmd from 99.49 mmscmd. During the fourth quarter, the petrochemical production was 83,000 tons as against 119,000 tons in the corresponding quarter last year. Turnover was up 17 per cent to Rs 14,464 crore. On year-on-year basis, the company posted 9 per cent growth in the net profit at Rs 4375.27 core as compared to Rs 4022.2 crore in the same quarter a year ago. For the Year ended March 31, 2014, total income of the company increased from Rs 48287.20 crore for the year ended March 31, 2013 to Rs 58406.45 crore.
