GAIL’s Profit after Tax Rs. 1,310 crore, up by 42% for Q2 of FY 2017-18 on year-on-year basis
PBT Rs. 1,927 crore up by 40%; Gross Margin Rs. 2,362 crore up by 28%
New Delhi, November 14, 2017: GAIL (India) Limited registered a 42% increase in Profit after Tax (PAT) in the second quarter of Financial Year 2017-18, as against the corresponding quarter in last fiscal mainly due to better performance by Liquid Hydrocarbon (LHC) and NG Transmission & Marketing Segments. The Company’s PAT for the quarter ending September 30, 2017 rose to Rs. 1,310 crore from Rs. 925 crore in the corresponding quarter of the last fiscal. GAIL’s Profit before Tax (PBT) for the second quarter increased by 40% to Rs. 1,927 crore against Rs. 1,375 crore in the corresponding quarter of the last fiscal.
All the segments have registered positive physical growth both sequentially and on year-on-year basis.
The increase in net profit in Q2 FY 2017-18 on year-on-year basis, was supported by increase in Natural Gas Transmission & Marketing volumes by 5% each, LPG Transmission by 11%, Petrochemicals Sales by 29% & Liquid Hydrocarbon Sales by 17%.
On half yearly basis, GAIL’s PAT is Rs. 2,335 crore, signifying an increase by 32% against H1 16-17 after excluding gain from stake sale in Mahanagar Gas Limited.
GAIL’s PAT in the second quarter of FY 2017-18 rose by 28% vis-à-vis the first quarter of current financial year, from Rs. 1,026 crore to Rs. 1,310 crore largely on account of better performance in Natural Gas Transmission and Natural Gas Marketing segment. Strong performance in Natural Gas Transmission and Marketing is supported by increase in Sales volumes in these segments.