GAIL posts 57 percent jump in Q4 net profit

Sarkaritel
By Sarkaritel May 27, 2014 09:36

GAIL posts 57 percent jump in Q4 net profit


New Delhi, May 26, 2014: GAIL (India) Limited has recorded sustained performance in financial parameters for the Financial Year 2013-14. According to the audited figures, Turnover (net of excise duty) in the year 2013-14 increased by 21% to ` 57,245 crore from  ` 47,333 crore in FY 2012-13.

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The Gross Margin during the year 2013-14 increased by 5%  to ` 7,599 crore from ` 7,233 crore. The Profit Before Tax during the year 2013-14 increased by 6% to ` 6,402 crore from ` 6,058 crore in the previous year. The Profit After Tax during the year 2013-14 increased by 9% to ` 4,375 crore from ` 4,022 crore in the previous year. The Board of Directors has recommended payment of total dividend at the rate of 104% on the paid-up share capital of the Company for FY 2013-14 inclusive of 45% interim dividend already paid.

During the year 2013-14, GAIL has contributed Rs. 1900 crore towards subsidy.

Segment-wise Revenue

During the current financial year, sales from Natural Gas Trading increased by 24% to ` 48,922 crore as against ` 39,609 crore in last year. The net sales from Petrochemicals business have increased by 22% to ` 4,582 crore as against ` 3,765 crore in last year. The net sales from LPG and Liquid Hydrocarbons business during the current financial year increased by 23% to ` 5,462 crore as against ` 4,434 crore in last year. Revenues from Natural Gas Transmission business have increased by 23%  to ` 4,104 crore as against ` 3,347 crore in last year. Revenues from LPG transmission during the current financial year have increased by 42% to ` 418 crore as against ` 294 crore in last year.

The increase in net profit during the current financial year was mainly due to the increase in revenue from Natural Gas Trading, LPG Transmission, E&P Segment, and better price realisation of Petrochemicals and LPG & LHC sales.

Physical Performance

During FY 2013-14, petrochemical production was 436 TMT as against 437 TMT in the last year. During the current financial year, polymer sales increased by 4% to 445 TMT as against 427 TMT in the last year. During the current financial year LPG and Other Liquid Hydrocarbon production was 1,303 TMT, as against 1,376 TMT in the last year. The LPG and Other Liquid Hydrocarbon sales during the current financial year was 1307 TMT, as against 1371 TMT in the last year. The LPG transmission during the current financial year was 3,145 TMT, against 3,136 TMT in the last financial year. The Natural Gas transmission was 96.22 MMSCMD as against 104.90 MMSCMD in the last year. The Natural Gas sales during the current financial year were 79.18 MMSCMD as against 81.44 MMSCMD in the last year.

During the year 2013-14, as per consolidated financial statements, the total group sales (net of Excise Duty) were ` 61,644 crore. The consolidated Gross Margin was ` 8,923 crore, the Profit Before Tax was ` 6,922 crore and Group Profit After Tax was ` 4,786 crore.

The Earning Per Share (EPS) was ` 34.49 per share in the year 2013-14 as against ` 31.71 per share in the year 2012-13. The EPS as per consolidated statement was ` 37.73 per share as against ` 34.48 per share in the previous year.

Q4 Results of 2013-14

GAIL (India) Limited registered a turnover (net of Excise Duty) of ` 14,464 crore in the fourth quarter of FY 2013-14 as against ` 12,409 Crore, a 17% increase over the turnover in the corresponding quarter during the last financial year. The Gross Margin for the fourth quarter of the FY 2013-14 increased by 26% to ` 1,851 crore  from ` 1,468 crore in the corresponding period of last year. The profit before tax for the fourth quarter increased by 26% to ` 1,439 crore from ` 1,141 crore. GAIL’s Net Profit for the fourth quarter increased by 57%  to ` 972 crore against ` 618 crore in the corresponding quarter of previous year.

Segment-wise Revenue

During the fourth quarter of the current financial year net sales from LPG and Liquid Hydrocarbons business during the fourth quarter of the current financial year have increased by 13% per cent to     ` 1,486 crores as against ` 1,315 crores in the corresponding period of last year due to lower contribution to LPG subsidy with comparison to last year. The net sales from Petrochemicals business have decreased by 2% to ` 1,180 crore as against ` 1,204 crore in the corresponding period of last year. Revenue from Natural Gas Trading have increased by 16%  to ` 12,198 crore as against ` 10,552 crore in the corresponding period of the last year. The revenues from Natural Gas Transmission business have increased by 85% to ` 849 crore as against ` 458 crore in the corresponding period of previous year. The revenues from LPG transmission have increased by 11% to ` 115 crores as against ` 104 crores in the corresponding period last year.

The increase in net profit during the fourth quarter of the current financial year was mainly due to increase in revenue of NG Transmission ,  higher price realisation of petrochemical, LPG & Other LHC sales.

Physical Performance

During the fourth quarter of the current financial year, the Natural Gas sales were 76.26 MMSCMD, as against 80.13 MMSCMD during the corresponding quarter of last year. The Natural Gas transmission during the fourth quarter of the current financial year was 94.66 MMSCMD, as against 99.49 MMSCMD in the corresponding period last year.

During the fourth quarter of FY 2013-14, the petrochemical production was 83 TMT, as against 119 TMT in the corresponding quarter last year. The polymer sales during the fourth quarter of the current financial year were 107 TMT as against 132 TMT in the corresponding quarter in the previous year. The LPG transmission during the fourth quarter of the current financial year increased by 16 percent to 863 TMT as against 745 TMT during the corresponding quarter in the previous financial year. The LPG and Other Liquid Hydrocarbon production during the fourth quarter of the current financial year was 288 TMT as against 349 TMT in the corresponding quarter of last year. The LPG and Other Liquid Hydrocarbon sales during the fourth quarter of the current financial year were 289 TMT as against 348 TMT in the corresponding period last year.

Sarkaritel
By Sarkaritel May 27, 2014 09:36