Home ECONOMY GAIL clocks highest-ever net profit in 2018-19 FY

GAIL clocks highest-ever net profit in 2018-19 FY

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New Delhi: Union Government-owned GAIL (India) Ltd has registered highest-ever profit in financial year 2018-19.

The country’s biggest transporter and marketer of natural gas reported increase in its net profit by 10 percent in the fourth quarter taking the figure to Rs 1,122 crore and by 30 percent to record Rs 6,026 crore, a rise of 30 % from Rs. 4,618 crore in the last fiscal.

It’s turnover increased by 39% at Rs. 74,808 crore while Profit before Tax (PBT) rose by 31% at Rs. 9,085 crore.

Besides, it registered 14% growth in Natural Gas Marketing and 2% growth in Natural Gas Transmission volumes while sales quantity in Petrochemicals, Liquid Hydrocarbons (LHC) and LPG Transmission segment rose by 9%, 4% and 7% respectively during the year.

The Gross Margin shot up by 25 % taking it to Rs. 10,774 crore.

While the earning per share rose by 30% from Rs. 20.48 to Rs. 26.72, the Board recommended a final dividend of Rs.1.77 per share (subject to approval of shareholders) on paid-up equity (pre bonus issue) making the total dividend for the year to Rs.8.02 per share. The Board also recommended one fully paid-up Bonus share for every one equity shares held (subject to approval of shareholders).

Furthermore, GAIL recorded Profit after Tax (PAT) of Rs. 1,122 crore in Q4 FY 18-19 increased by 10% vis-à-vis the corresponding period in the last fiscal.

“Robust performance in all segments contributed to GAIL’s profit during the year. Gas Marketing, Gas Transmission, LHC and Petrochemicals Segments performed better than the last year due to improved physical performance coupled with better realisations in these segments,” GAIL CMD BC Tripathi said.

A record capex (capital expenditure) of Rs 8,300 crore has been made in 2018-19 fiscal, mainly in the ongoing pipeline projects of 5,500 kms, adding to a total investment of Rs. 32,000 crore in next couple of years. GAIL is committed to strengthen the infrastructure to aid the transition to a gas-based economy, he added.