GAIL India profit rises 31.8% to Rs 4,618 crore

GAIL India posted a 31.8 per cent rise in net profit at Rs 4,618 crore for the financial year ended March 31, 2018, while revenue from operations rose 10.1 per cent to Rs 53,825 crore.

The company posted a 292.4 per cent on-year rise in net profit to Rs 1,021 crore for the quarter ended March. Revenue from operations during the quarter was at Rs 15,431 crore compared with Rs 13,674 crore in the same period a year ago.

The revenue from operations, excluding excise duty, rose 14.71 per cent.

During the year, the company registered 5 per cent growth in natural gas marketing as well as in natural gas transmission volumes while sales quantity in petrochemicals, LHC and LPG transmission segment rose by 17 per cent, 15 per cent and 11 per cent, respectively. The increased profit was mainly supported by profit from liquid hydrocarbons and natural gas transmission segments. High sales volumes in petrochemical segment helped to mitigate the lower price realizations and higher input costs, the company said.

Total expenditure during the quarter was at Rs 14,130 crore compared with Rs 12,488 crore in the year-ago period. The company has incurred a one-time gain of Rs 27.69 crore during the quarter.

Operating margin of the company shrank to 10.99 per cent in Jan-Mar from 11.56 per cent in the previous-year period. Finance cost was at Rs 33.30 crore during Jan-Mar as against Rs 21.96 crore in the corresponding period previous year.

The company’s tax payment was at Rs 583 crore in the reporting quarter as against Rs 606 crore in the same period last year. In the previous quarter, the company’s net profit was at Rs 1,262 crore, on revenue from operations of Rs 14,414 crore.

The board has declared a final dividend of Rs 1.44 per share.