GAIL’s Profit after Tax Rs. 1,963 crore for Q2 of FY 2018-19

Sarkaritel
By Sarkaritel November 6, 2018 10:11


New Delhi, November 06, 2018: GAIL (India) Limited registered a 50% increase in Profit after Tax (PAT) in the second quarter of Financial Year 2018-19, as against the corresponding quarter in last fiscal mainly due to better performance by Natural Gas Marketing, Liquid Hydrocarbon (LHC) and Petrochemicals Segments. The Company’s PAT for the quarter ending 30th September, 2018 rose to Rs. 1,963 crore from Rs. 1,310 crore in the corresponding quarter of the last fiscal. GAIL’s Profit before Tax (PBT) for the second quarter increased by 50% to Rs. 2,897 crore against Rs. 1,927 crore in the corresponding quarter of the last fiscal.

The increase in net profit in Q2 FY 2018-19, on year on year basis, was supported by increase in Natural Gas Marketing volumes by 14%, LPG Transmission by 11%, Petrochemicals Sales by 4% & Liquid Hydrocarbon Sales by 1%.

The current quarter includes effect of upward tariff revision of Rs 194 crore approved by PNGRB w.e.f. 01.04.2018 for Dahej – Uran – Dabhol – Panvel Pipeline, Dukli Maharajganj, Agartala Regional Network and Gujarat Regional Network and a one-time take or pay settlement of Rs 133 crore with one of the Natural Gas Customer. A one-time charge has been made in the current quarter for Rs.208 crore towards increase in gratuity ceiling from Rs 10 lacs to Rs 20 lacs per employee.

Sarkaritel
By Sarkaritel November 6, 2018 10:11