Companies

Q1 results: GAIL’s profit after tax up by 15 per cent

Our Bureau New Delhi | Updated on August 09, 2019 Published on August 09, 2019

File photo   -  REUTERS

GAIL’s PAT was Rs 1,288 crore in the first quarter of 2019-20

GAIL (India) Limited registered a 15 per cent increase in profit after tax (PAT) in the first quarter of 2019-20, as against the last quarter of 2018-19. This is mainly due to the improved performance by the gas marketing and gas transmission segments as well as the liquid hydrocarbon segment. The company’s PAT for the quarter ending June 30 this year is Rs 1,288 crore. In fourth quarter of last year the profit recorded was Rs 1,122 crore.

On year on year basis, GAIL’s PAT of Rs 1,288 crore in the first quarter of 2019-20 registered a growth of 2 per cent against profit of Rs 1,259 crore in corresponding quarter of 2018-19.

Gross sales of Rs 18,276 crore in the first quarter of 2019-20 has increased by 6 per cent from Rs 17,262 crore in first quarter of last year. Gross margin (EBITDA) has seen growth of 2 per cent from Rs 2,363 crore in first quarter last year to Rs 2,410 crore in first quarter of current year.

Dr Ashutosh Karnatak, Chairman & Managing Director, GAIL said the increase in net profit in first quarter of this year was supported by better financial performance in natural gas marketing and transmission segments which outshone a muted performance in petrochemicals.

On consolidated basis, gross sales of Rs 18,445 crore in the first quarter has increased by 5 per cent from Rs 17,536 crore in first quarter of last year.

Published on August 09, 2019
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