GAIL posts 33% jump in profits on year-on-year basis in Q3

CMD BC Tripathi said GAIL is expected to achieve capital expenditure outlay of around Rs 7,000 crore during 2018-19 which is more than 70% increase from last year. The first phase of prestigious Pradhan Mantri Urja Ganga project will be completed by the end of this month

BC Tripathi, Chairman & Managing Director, GAIL, said that in the third quarter, the LHC Segments performed remarkably better than the last quarter due to better margin in the segment. However, the margins in Natural Gas Trading and Petrochemical segments were under pressure in the quarter. Further on the nine-month basis, the PAT of the company has already surpassed the yearly PAT of the last fiscal supported by better physical performance in all the business segments. Tripathi informed that GAIL's petrochemical unit at Pata has scripted history by being the first in India to produce the value-added Metellocene film grade. Country-wide sales have commenced to quality-conscious customers after successful field trials.

This move of GAIL would not just provide domestic consumers of a reliable and indigenous supply source but shall help potential forex savings of over US$100 million annually for India, as per initial estimates. He said GAIL is expected to achieve capital expenditure outlay of around Rs 7,000 crore during 2018-19 which is more than 70% increase from last year. The first phase of prestigious Pradhan Mantri Urja Ganga project will be completed by the end of this month. The Company had also declared an interim dividend of Rs 6.25 per equity share (face value of Rs. 10 each) for the financial year FY 2018-19.