Companies

Robust show by natural gas marketing segment lifts GAIL India profit up 20%

Our Bureau New Delhi | Updated on May 27, 2019 Published on May 27, 2019

B. C. Tripathi,CMD ,GAIL addressing a press confrence along with Gajendra Singh, Director (Marketing), GAIL (L) in New Delhi on May 27, 2019. Pic : Kamal Narang

Board recommends 1:1 bonus and 17.70 per cent pre-bonus dividend

GAIL (India) has reported a standalone net profit of ₹1,122.23 crore for the fourth quarter ended March 31, 2019. This represents a 19.72 per cent increase over the net profit of ₹1,020.92 crore recorded in same quarter of the previous financial year.

Total income during the quarter under review rose by 24.98 per cent to ₹ 19,629.75 crore.

The board has recommended issue of fully paid up bonus share in the ratio of 1:1 and a pre-bonus final dividend of 17.70 per cent (₹1.77 on equity share of ₹10 each) for the fiscal year 2018-19, a company statement said. This will amount to ₹399.15 crore.

On a consolidated basis, in the financial year 2018-19, the total income was ₹77,488.44 crore (₹55,507.03 crore). For the GAIL (India) group, net profit for financial year 2018-19 was at ₹6,552.77 crore against ₹4,805.05 crore in the previous year, registering an increase of 36.37 per cent.

“During the year, the company registered 14 per cent growth in Natural Gas Marketing and 2 per cent growth in Natural Gas Transmission volumes, while sales quantity in Petrochemicals rose by 9 per cent, Liquid Hydrocarbons (LHC) by 4 per cent and LPG Transmission by 7 per cent. The increase in profit was mainly due to robust performance of Natural Gas Marketing segment supported by increase in profit from Natural Gas Transmission, LHC and Petrochemicals segments,” the statement said.

GAIL Chairman and Managing Director BC Tripathi said the company has made a record capital expenditure of ₹8,300 crore in the 2018-19 fiscal , mainly in the on-going pipeline projects of 5,500 km, adding to a total investment of ₹32,000 crore in next couple of years.

 

 

Published on May 27, 2019
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