State-owned natural gas processing and distribution company GAIL reported an increase in its net profit during the financial year 2018-19 as compared to the previous fiscal. The largest natural gas transmission company in India, GAIL Limited reported a standalone net profit of Rs 6,025.67 crore during the financial year ended March 31, 2019. This amounts to an increase of 30.47 per cent over the net profit reported during the financial year ended March 31, 2018.
The natural gas company reported total income to the tune of Rs 76,671.57 crore during the fiscal under review, as opposed to Rs 54,812.49 crore in the previous fiscal.
Moreover, the company reported growth across all segments during the financial year ended March 31, 2019. The natural gas marketing vertical recorded the highest growth of 127.62 per cent during the period under review. The segment reported net profit of Rs 2,859.07 crore during FY19, as opposed to Rs 1,256.06 crore during the previous fiscal.
On a quarterly basis, GAIL posted a net profit Rs 1,122.23 crore during the March quarter of FY19, as opposed to Rs 1,020.92 crore during the corresponding period of the previous fiscal. The company posted a segment loss of Rs 20 crore in the petrochemicals business, but the losses were recuperated by increase in profit of natural gas marketing.
The total income for the company during the March quarter of FY19 was Rs 19,629.75 crore, as opposed to Rs 15,706.27 crore. Revenue from operations rose to Rs 18,763.87 crore in the fourth quarter of fiscal year 2018-19 when compared with Rs 15,430.69 crore of net profit in the year-ago period.
The board of GAIL also recommended a bonus share issue in the ratio of 1:1, that is, one free share will be issued for every share held. The board also recommended a final dividend at Rs 1.77 per equity share of Rs 10 each amounting to Rs 399.15 crore. The bonus share and final dividend are subject to shareholder approval.
"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 per cent year on year in each of the last three financial years," BC Tripathi, CMD, GAIL said.
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