Companies

GAIL’s Q3 consolidated net slides 6.5%

Our Bureau | | Updated on: Feb 10, 2021

A GAIL India Ltd. logo sits on display during a news conference in New Delhi, India, on Tuesday, May 28, 2013. GAIL India Ltd., the nation's largest supplier of natural gas, reported a 28 percent rise in fourth-quarter profit to 6.18 billion rupees, trailing the 8.6 billion rupees estimated by 37 analysts in a Bloomberg News survey. Photographer: Prashanth Vishwanathan/Bloomberg

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.

 

 

 

Published on February 10, 2021
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