Tuesday, October 4, 2022

In FY19, GAIL posts highest-ever profit in 3 decades

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New Delhi: GAIL (India) Limited recorded its highest-ever profit after tax (PAT) of Rs 6,026 crore for the financial year 2018-19 in over three decades, marking a rise of 30 percent from Rs 4,618 crore in the last fiscal. The public sector undertaking (PSU) attributed the jump to better physical performance in all segments and better realisations. The company’s turnover is up by 39 percent at Rs 74,808 crore while PAT rose by 31 percent at Rs 9,085 crore.

GAIL registers 14% growth in Natural Gas marketing

During the year, the GAIL registered 14 percent growth in Natural Gas Marketing and 2% growth in Natural Gas Transmission volumes while sales quantity in Petrochemicals, Liquid Hydrocarbons (LHC) and LPG Transmission segment rose by 9 percent, 4 percent and 7 percent, respectively. The increase in profit was mainly due to robust performance of Natural Gas Marketing segment duly supported by increase in profit from Natural Gas Transmission, LHC and Petrochemicals segments.

Earning per share is up by 30%

The earning per share is up by 30 percent from Rs 20.48 to Rs 26.72. The Board has recommended a final dividend of Rs 1.77 per share (subject to approval of shareholders) on paid-up equity (pre bonus issue) making the total dividend for the year to Rs 8.02 per share. The Board has also recommended one fully paid-up Bonus share for every one equity shares held (subject to approval of shareholders). On a quarterly basis, GAIL recorded PAT of Rs 1,122 crore in Q4 FY 18-19 increased by 10 percent vis-à-vis the corresponding period in the last fiscal.

GAIL records profit growth in all segments

During the quarter, the company registered growth in physical performance in all segments as compared to corresponding period of the previous year with Natural Gas Marketing up by 10 percent, Natural Gas Transmission volumes up by 3 percent, Petrochemicals sales up by 12 percent, Liquid Hydrocarbon Sales rising by 4 percent and LPG Transmission volumes increasing by 4 percent.

Consolidated turnover at Rs 75,912 crore

During the year 2018-19, the total consolidated group turnover stood at Rs 75,912 crore while the Group PAT was Rs 6,546 crore. CGD group companies IGL, MGL, GAIL Gas and Petronet LNG continued to add to the group profit. Taking together the impact, earning per share as per consolidated statement is Rs 29.03 in FY19 as against Rs 21.28 per share in the previous year.

‘All segments contributed positively’

BC Tripathi, CMD GAIL, said that all segments contributed positively to the company’s profit during the year. Gas Marketing, Gas Transmission, LHC and Petrochemicals Segments performed better than the last year due to improved physical performance coupled with better realisations in these segments. GAIL’s PAT has registered consistent growth of over 30 percent year-on-year in each of the last three financial years. Tripathi added that GAIL has made a record Capex of  Rs 8,300 crore in the current FY 2018-19, mainly in the on-going pipeline projects of 5,500 kms, adding to a total investment of Rs 32,000 crore in next couple of years.

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