Robust petrochemical segment with 25% revenue growth props GAIL Q4 results

24-May-11

GAIL maintained its growth momentum in revenues with a 36% y-o-y jump for the March 2011 quarter. The petrochemical segment, which failed to perform during in Q2-10, reported a robust performance with 25% revenue growth. The company's consolidated net profit for the year grew 20.8% to Rs 4,020.97 crore as its subsidiaries and JVs remain highly profitable. Revenues grew almost 30% to Rs 35,106.65 crore. Revenues from natural gas trading reached a new high of Rs 7,153 crore. Gail's subsidy burden for the quarter was higher compared with the average of around Rs 400 crore in the first three quarters. Gail is in the midst of Rs 27,000-crore expansion for which it has planned to borrow almost Rs 14,200 crore by FY-13. The hefty cash outgoes are proving to be a drag on the company's finances.