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GAIL posts net profit of Rs 1,288 cr in Q1 FY20

GAIL registered a 15 percent increase in Profit after Tax (PAT) in Q1 FY20, as against the last quarter of FY 2018-19

GAIL posts net profit of Rs 1,288 cr in Q1 FY20

New Delhi: GAIL (India) Limited registered a 15 percent increase in Profit after Tax (PAT) in the first quarter of FY 2019-20, as against the last quarter of FY 2018-19  mainly due to better financial performance by gas marketing, gas transmission segments and liquid hydrocarbon segment. The company’s PAT for the quarter ending June 30 stood at Rs 1,288 crores as compared to Rs 1,122 crores in Q4 FY 2018-19. On year on year basis, GAIL’s PAT was at Rs 1,288 crores in Q1 FY 2019-20, registering a growth of 2 percent against Rs 1,259 crores in the corresponding quarter of FY 2018-19.

Gross sales

Gross sales came in at Rs 18,276 crores in Q1 FY 2019-20, while increasing by 6 percent from Rs 17,262 crores in Q1 FY 2018-19. Gross Margin (EBITDA) saw a growth of 2 percent from Rs 2,363 crores in Q1 FY 2018-19 to Rs 2,410 crores in Q1 FY 2019-20. PBT came in at Rs 1,981 crores in Q1 FY 2019-20, up by 2 percent from Rs 1,940 crore in Q1 FY 2018-19.

‘Rise in net profit supported by better financial performance’

Dr Ashutosh Karnatak, CMD GAIL, said the increase in net profit in Q1 FY 2019-20 was supported by better financial performance in natural gas marketing and transmission segments which outshone a muted performance in petrochemicals. On a consolidated basis, gross sales stood at Rs 18,445 crores in Q1 FY 2019-20, rising by 5 percent from Rs 17,536 crores in Q1 FY 2018-19. PAT stood at Rs 1,504 crores in Q1 FY 2019-20, up by 4 percent from Rs 1,443 crore in Q1 FY 2018-19.