close

News WrapGet Handpicked Stories from our editors directly to your mailbox

GAIL posts 20 pc rise in Q4 net profit; declares 1:1 bonus

GAIL India Monday reported a 20 per cent rise in its March quarter net profit as margins on natural gas sales and transmission more than made up for the loss in the petrochemical business.

GAIL posts 20 pc rise in Q4 net profit; declares 1:1 bonus
GAIL India Monday reported a 20 per cent rise in its March quarter net profit, Photo: Reuters
By PTI
Updated: Mon, May 27, 2019
04:10 pm
New Delhi, PTI
RELATED NEWS
51% return? How GAIL India stock may make you rich - Nomura gives buy rating 51% return? How GAIL India stock may make you rich - Nomura gives buy rating
Stocks in Focus on May 29: GAIL, Greaves Cotton to VRL Logistics; here are the 5 newsmakers of the day Stocks in Focus on May 29: GAIL, Greaves Cotton to VRL Logistics; here are the 5 newsmakers of the day
GAIL registers highest ever PAT of Rs 6,026 crore, turnover jumps 39 pct GAIL registers highest ever PAT of Rs 6,026 crore, turnover jumps 39 pct
Sensex scales 227 points, Nifty above 11,200 levels; Bharti Airtel, BHEL, GAIL stocks gain Sensex scales 227 points, Nifty above 11,200 levels; Bharti Airtel, BHEL, GAIL stocks gain

State gas utility GAIL India Monday reported a 20 per cent rise in its March quarter net profit as margins on natural gas sales and transmission more than made up for the loss in the petrochemical business. Net profit in January-March at Rs 1,222.23 crore, or Rs 4.98 per share, was 19.70 per cent higher than Rs 1,020.92 crore, or Rs 4.53 a share, net profit in the same period of the previous fiscal year, the company said in a regulatory filing.

Revenue rose to Rs 18,763.87 crore in the fourth quarter of 2018-19 fiscal year when compared with Rs 15,430.69 crore net profit in the year-ago period.

The board of GAIL also approved a 1:1 bonus - issue of one free share for every share held. GAIL had a segment loss of Rs 20 crore in its petrochemical business. Also, pre-tax profit on LPG and liquid hydrocarbons business halved to Rs 416.15 crore.

This, however, was made good by higher margins on gas transmission and natural gas sales businesses. Pre-tax profit on gas transmission business rose 8.3 per cent to Rs 777.92 crore while that on natural gas marketing tripled to Rs 587.53 crore.