GAIL (India) Limited Q 1 Turnover up 24%, PAT up 22%

GAIL (India) Limited today announced the impressive growth in the first quarter of the current financial year. Turnover of the company (excluding Excise Duty) has increased by 24 % to Rs. 4078 crore in the first quarter of 2006-07 as against Rs. 3288 crore in the first quarter of the previous financial year. The Profit After Tax (PAT) has increased by 22 percent to Rs. 592 crore in the first quarter of the current financial year as against Rs. 483 crore in the corresponding quarter in the previous year. The Profit Before Tax has also increased by 17 percent to Rs. 852 crore in the first quarter of the current financial year as against the Profit Before Tax of Rs. 729 crore in the corresponding quarter previous year. An enhanced provision of Rs. 250 crore towards subsidy sharing on LPG and Kerosene has been made in the first quarter of the current financial year as against a provision of Rs. 153 crore in the corresponding quarter in the previous year.

During the first quarter of the current financial year, revenues from all the business segments have shown an upside as compared to the corresponding quarter of the previous year. The revenues from Petrochemicals business during the first quarter of the current financial year have increased by 50 percent to Rs. 550 crore from Rs. 367 crore in the corresponding period of last year. The revenues from Natural Gas Trading during the first quarter of the current financial year have increased by 35 percent to Rs. 2,978 crore from Rs. 2,205 crore in the corresponding period of last year. The revenues from Natural Gas Transmission during the first quarter of the current financial year have increased by 4.5 percent to Rs. 600 crore from Rs. 574 crore in the corresponding period of last year. The revenues from LPG transmission during the first quarter of the current financial year have increased by 6 percent to Rs. 71 crore from Rs. 67 crore in the corresponding period last year. The revenues from LPG and Liquid Hydrocarbon business during the first quarter of the current financial year have increased by 26 percent to Rs. 641 crore from Rs. 507 crore in the corresponding period of last year.

During the first quarter of the current financial year, polymer sales were 81,000 MT, up 29 percent from 63,000 MT in the corresponding quarter in the previous year. The LPG transmission during the first quarter of the current financial year was 522,000 MT, up 7 percent from 487,000 MT during the corresponding quarter in the previous financial year. The LPG and Other Liquid Hydrocarbon sales were up 8 percent to 356,000 MT during the current financial year, as against 330,000 MT during the corresponding quarter in the previous financial year. The Natural Gas transmission during the first quarter of the current financialyear was 79.05 MMSCMD as against 78.93 MMSCMD during the corresponding quarter of the previous financial year. During the first quarter of the current financial year, the Thulendi-Phulpur pipeline was commissioned.

Source : Equity Bulls

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