Thesynergyonline Corporate Bureau
NEW DELHI, FEBRUARY 12 : GAIL (India) registered a 28 per cent increase in Profit after Tax (PAT) in the third quarter of Financial Year 2017-18,(Q3FY'18) as against the corresponding quarter in last fiscal (Q3FY'17) , due mainly to the better performance by Liquid Hydrocarbon (LHC), Gas Marketing & Transmission segments.
The company's PAT for the quarter ended December 31, 2017(Q3FY'18) rose to Rs 1,262 crore from Rs 983 crore in the corresponding quarter (Q3FY'17)of the last fiscal. Profit before Tax (PBT) for the third quarter increased by 25 per cent to Rs 1,858 crore asagainst Rs 1,484 crore in the corresponding quarter of the last fiscal.
Natural Gas Transmission & Marketing volumes increased by 6 per cent each, petrochemicals sales by 21 per cent, liquid hydrocarbon sales by 10 per cent and LPG transmission by 2 per cent in the third quarter as compared to the corresponding quarter in previous year.
Similar physical growth in all the segments was recorded for nine months ended December 2017 , resulting in increase of 31 per cent in PAT (after excluding gain in the previous fiscal from stake sale in Mahanagar Gas Limited ) to Rs 3,597 crore.
The company's board has recommended, for approval of the shareholders, issue of bonus shares in the ratio of one equity shares of Rs 10 each for three existing equity shares (1;3) of Rs 10 each.
Mr B C Tripathi, Chairman & Managing Director, GAIL (India) said,"All the segments have registered physical growth as compared to previous year, which is reflected in both the topline and the bottomline of the company. Along with the operational growth, company is also increasing its Natural Gas pipeline infrastructure. Similarly, CGD infrastructure is also being expanded together with our subsidiary and joint ventures. We are confident to meet the capacity expansion target of current fiscal year which is more than 70 per cent achieved last year. Similar growth in capacity expansion is planned in the next fiscal 2018-19 to around Rs 6000 crore."