GAIL (India) Ltd has registered a 45 per cent increase in its net profit for the fourth quarter of 2009-10. The company’s net profit for the quarter rose to Rs 910.8 crore from Rs 630.02 crore in the same quarter previous year.
The increase in net profit during the quarter was mainly due to the increase in natural gas, LPG transmission and liquid hydrocarbons sales quantity, BC Tripathi, Chairman and Managing Director, GAIL (India), said.
GAIL’s turnover during the fourth quarter stood at Rs 6,522 crore, up 6 per cent from the corresponding quarter during the last financial year. During the quarter, the revenues from LPG transmission registered an increase of 23 per cent to Rs 122 crore. The net sales from LPG and liquid hydrocarbons business during the quarter rose by 20 per cent to Rs 920 crore. The net sales from the petrochemicals business increased by 17 per cent to Rs 822 crore.
The revenues from natural gas transmission business registered an increase of 14 per cent to Rs 740 crore. However, the sale from natural gas trading during the fourth quarter was down to Rs 4,665 crore (Rs 4,743 crore). “There was a drop in natural gas trading because there was no spot LNG coming,” Tripathi told media persons in New Delhi.
For the full fiscal 2009-10 the company has reported a 12 per cent increase in net profit to Rs 3,140 crore (Rs 2,804 crore). The turnover for the fiscal increased by 5 per cent to Rs 24,996 crore (Rs 23,898 crore).
The Board of GAIL has recommended payment of total dividend at the rate of 75 per cent on the paid-up share capital of the company for FY 2009-10 inclusive of 20 per cent interim dividend already paid.
Tripathi said for the next three-four years up to 2013-14 the company has planned a capex of Rs 35,346 crore which would be met through internal accruals and borrowings of about Rs 20,000 crore.
Some of the future projects include petrochemical plant upgradation, pipeline infrastructures, and renewable energy projects. GAIL also plans to raise Rs 500 crore through bond sales in the domestic market, with greenshoe option of 50 per cent, and another $150 million through foreign currency bonds.
The increase in net profit during the quarter was mainly due to the increase in natural gas, LPG transmission and liquid hydrocarbons sales quantity, BC Tripathi, Chairman and Managing Director, GAIL (India), said.
GAIL’s turnover during the fourth quarter stood at Rs 6,522 crore, up 6 per cent from the corresponding quarter during the last financial year. During the quarter, the revenues from LPG transmission registered an increase of 23 per cent to Rs 122 crore.
The net sales from LPG and liquid hydrocarbons business during the quarter rose by 20 per cent to Rs 920 crore. The net sales from the petrochemicals business increased by 17 per cent to Rs 822 crore.
The revenues from natural gas transmission business registered an increase of 14 per cent to Rs 740 crore. However, the sale from natural gas trading during the fourth quarter was down to Rs 4,665 crore (Rs 4,743 crore). “There was a drop in natural gas trading because there was no spot LNG coming,” Tripathi told media persons in New Delhi.
For the full fiscal 2009-10 the company has reported a 12 per cent increase in net profit to Rs 3,140 crore (Rs 2,804 crore). The turnover for the fiscal increased by 5 per cent to Rs 24,996 crore (Rs 23,898 crore).
The Board of GAIL has recommended payment of total dividend at the rate of 75 per cent on the paid-up share capital of the company for FY 2009-10 inclusive of 20 per cent interim dividend already paid.
Tripathi said for the next three-four years up to 2013-14 the company has planned a capex of Rs 35,346 crore which would be met through internal accruals and borrowings of about Rs 20,000 crore.
Some of the future projects include petrochemical plant upgradation, pipeline infrastructures, and renewable energy projects. GAIL also plans to raise Rs 500 crore through bond sales in the domestic market, with greenshoe option of 50 per cent, and another $150 million through foreign currency bonds.
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