Business Daily from THE HINDU group of publications
Tuesday, Jul 18, 2006
Business Daily from THE HINDU group of publications Tuesday, Jul 18, 2006 |
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Corporate Results
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Petroleum
Our Bureau
New Delhi , July 17 With revenues from all business segments showing an upside, the state-owned gas transmission and marketing major GAIL (India) Ltd on Monday reported a 22 per cent increase in its profit after tax (PAT) to Rs 592 crore for the first quarter of the current financial year (2006-07). Its PAT in the corresponding quarter last year was at Rs 483 crore. The turnover (excluding excise duty) registered an increase of 24 per cent to Rs 4,078 crore (Rs 3,288 crore). The profit before tax went up by 17 per cent to Rs 852 crore (Rs 729 crore). It has made an enhanced provision of Rs 250 crore (Rs 153 crore) towards subsidy sharing on liquefied petroleum gas (LPG) and kerosene. The petrochemicals business saw an increase of 50 per cent in revenues to Rs 550 crore (Rs 367 crore).
Transmission business
The company's earnings from natural gas trading increased by 35 per cent to Rs 2,978 crore (Rs 2,205 crore). In natural gas transmission business, revenues went up by 4.5 per cent to Rs 600 crore (Rs 574 crore), the company said. LPG transmission returned increased revenues by 6 per cent to Rs 71 crore (Rs 67 crore). The LPG and liquid hydrocarbon business saw an increase by 26 per cent to Rs 641 crore (Rs 507).
Polymer sales
Polymer sales were 81,000 million tonnes (MT), up 29 per cent from 63,000 MT in the corresponding quarter in the previous year. The LPG transmission during the first quarter was up by 7 per cent at 522,000 MT (487,000 MT). The sales from LPG and other liquid hydrocarbon were up 8 per cent to 356,000 MT during the current financial year. The GAIL scrip on Monday closed at Rs 238.65 on the BSE.
Related Stories: More Stories on : Petroleum | GAIL (India) Ltd
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