GAIL PAT jumps 20% to Rs. 1,487 crore in Q3 FY 21 vis-a-vis Rs. 1,240 crore in Q2 FY21

Newsdesk
By Newsdesk February 10, 2021 14:23

GAIL PAT jumps 20% to Rs. 1,487 crore in Q3 FY 21 vis-a-vis  Rs. 1,240 crore in Q2 FY21


New Delhi, February 10, 2021: GAIL (India) Limited recorded 13% increase in Turnover to Rs. 15,386 crore vis-a-vis Rs. 13,611 crore in Q2 FY21. Profit before Tax (PBT) increased by 20%  to Rs. 1,868 crore as against Rs. 1,550 crore in Q2 FY21.  The Profit after Tax (PAT) increased by 20% to Rs. 1,487 crore in Q3 vis a vis Rs. 1,240 crore in Q2 FY21.

Both physical as well as financial performance of the company improved further across all major segments in Q3 as compared to Q2 FY21. The Physical Performance improved by 4% in Natural Gas Transmission, 8% in Gas Marketing, 3% in LPG Transmission, 3% in Petrochemical Sales and 8% in Liquid Hydrocarbon Sales.

GAIL’s Petrochemical performance improved further in Q3, and the plant is operating at more than 100% capacity utilization. On account of better physical performance and price realization, the profitability of the segment has increased to  Rs. 423 crore in Q3 as against Rs. 170 crore during Q2 FY21.

For the nine month ending December 31, 2020, GAIL recorded turnover of Rs. 41,057 crore as against Rs. 54,021 crore upto Q3 FY20. PAT upto Q3FY21 stood at Rs. 2,983 crore as against Rs. 3,602 crore upto Q3 FY 20.

During the quarter, the group’s consolidated turnover stood at Rs. 15,606 crore as against Rs. 13,774 crore in Q2 FY21 while the group’s PAT stood at Rs. 1,897 crore as against Rs. 1,068 crore in Q2 FY21.

Manoj Jain, CMD, GAIL said that Prime Minister has dedicated two pipelines to the Nation, i.e,  Kochi- Mangaluru Section (450 km) of the KKMBPL on 5th January 2021 and  Dobhi – Durgapur section (348 km) of JHBDPL on 7th February 2021. The commissioning of pipelines will not only increase customers but also lead to growth in Gas Marketing and Transmission. He further stated that GAIL is trying to accelerate the progress in its ongoing projects.

Newsdesk
By Newsdesk February 10, 2021 14:23