GAIL Reports 28% YOY Jump in Q3 Profit At Rs.1232 crore
New Delhi, February 12, 2018: GAIL (India) Limited registered a 28% increase in Profit after Tax (PAT) in the third quarter of Financial Year 2017-18, as against the corresponding quarter in last fiscal, mainly due to the better performance by Liquid Hydrocarbon (LHC), Gas Marketing & Transmission Segments. The Company’s PAT for the quarter ending 31st December 2017 rose to Rs. 1,262 crore from Rs. 983 crore in the corresponding quarter of the last fiscal. Profit before Tax (PBT) for the third quarter increased by 25% to Rs. 1,858 crores against Rs. 1,484 crore in the corresponding quarter of the last fiscal.
Natural Gas Transmission & Marketing volumes increased by 6% each, Petrochemicals Sales by 21%, Liquid Hydrocarbon Sales by 10% & LPG Transmission by 2% in the third quarter, as compared to the corresponding quarter in previous year.
Similar physical growth in all the segments was recorded for nine months, ending Dec’17 resulting in increase of 31% in PAT (after excluding gain in the previous fiscal from stake sale in Mahanagar Gas Limited ) to Rs. 3,597 crore.
The Board of Directors have recommended, for approval of the shareholders, issue of Bonus Shares in the ratio of One equity shares of Rs 10/- each for Three existing equity shares of Rs 10/- each.
Shri B C Tripathi, Chairman & Managing Director, GAIL (India) Ltd said “All the segments have registered physical growth as compared to previous year, which is reflected in both the top line and the bottom line of the company. Along with the operational growth, company is also increasing its Natural Gas pipeline infrastructure. Similarly CGD infrastructure is also being expanded together with our subsidiary and joint ventures. We are confident to meet the Capex target of curre