GAIL net dips 27% in the quarter ended 30 June

Gas Authority of India Ltd (GAIL) has reported a 27% drop in net profit for Q1 of the current fiscal due to lower realisation from LPG (Liquefied Petroleum Gas) and liquid hydrocarbons and petrochemicals business. Net profit for the quarter stood at Rs 655.84 crore as against Rs 896.87 crore for the same quarter last fiscal. Earnings from petrochemicals business declined by 22% to Rs 622.57 crore (Rs 800.25 crore) and realisation from LPG and liquid hydrocarbons business declined by 14% to Rs 683.90 crore (799.36 crore) for the quarter. GAIL has registered a 5% increase in net sales for the quarter at Rs 6,021.42 crore (Rs 5,730.71 crore). Revenues from the gas transmission business rose to Rs 733.15 crore (Rs 616.17 crore) for the quarter. Net sales from LPG transmission business stood at Rs 105.73 crore (Rs 85.09 crore). GAIL earned Rs 4,641.71 crore from natural gas trading during the quarter up from Rs 4,118.15 crore in the same quarter last fiscal.
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