GAIL’s Q3 consolidated net slides 6.5%

Our Bureau New Delhi | Updated on February 10, 2021

Declares an interim dividend of ₹2.50 per equity share

GAIL (India) Ltd has reported a consolidated net profit of ₹1,897.04 crore for Q3 FY21, 6.5 per cent lower than the Q3 FY20 numbers. Total income was ₹15,899.85 crore, 12 per cent lower year-on-year.

The firm’s natural gas marketing segment, which contributes the largest share to revenue, was the worst hit, recording a net loss of ₹157.94 crore, as opposed to a net profit of ₹452.64 crore in the previous-year period. While gas demand continued to struggle in Q3, the commissioning of the 450-km Kochi-Mangaluru section of the KKMB pipeline in January, and the 348-km Dobhi-Durgapur section of the JHBD pipeline this month, “will not only increase customers but also lead to growth in gas marketing and transmission,” Manoj Jain, CMD, said in a statement.

The GAIL board, in its meeting held on January 15, had declared an interim dividend of ₹2.50 per equity share (face value of ₹10 each), amounting to ₹1,127.54 crore.

The board had also approved buyback not exceeding 6,97,56,641 fully paid-up equity shares at ₹150 apiece, for an aggregate consideration not exceeding ₹1,046.35 crore, excluding applicable taxes.

For the nine month period ended December, consolidated net profit was ₹3,608.18 crore, 23 per cent lower YoY. Total income was ₹42,624.77 crore, 23 per cent lower YoY.




Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on February 10, 2021
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.