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By a Staff Reporter: GAIL (INDIA) LTD - Result Update
Consolidated Quarterly Result:
• Net profit of GAIL (India) rose 226.71% to Rs 2137.75 crore in the quarter ended June 2021 as against Rs 654.33 crore during the previous quarter ended June 2020. Sales rose 44.33% to Rs 17571.45 crore in the quarter ended June 2021 as against Rs 12174.15 crore during the previous quarter ended June 2020.
• Other income was down 10.76% to Rs 543.16 crore. As a result PBIDT increased 144.37% to 3182.68 crore.
• Interest cost fell 0.23% to Rs 52.44 crore while depreciation increased 13.22% to Rs 589.99 crore.
• Consolidated profit before tax surged 248.58% to Rs 2,540.25 crore in Q1 FY22 as against Rs 728.74 crore in Q1 FY21.
• Natural gas sales in the June quarter rose to 95.95 mscmd from 81.16 mscmd a year ago and 91.37 mscmd in Jan-Mar.
• Although petrochemical sales volumes in the June quarter declined on year, better price realisations resulted in higher revenue from the segment. The story with the LPG segment was similar, with higher price realisations offsetting fall in volumes on an on-year basis.
• Petrochemical sales volumes in the June quarter fell to 138,000 tn from 183,000 tn a year ago and 234,000 tn in the March quarter.
• LPG sales volumes declined to 190,000 tn in Apr-Jun from 222,000 tn a year ago. Sequentially, however, volumes in the segment were higher than March quarter’s 159,000 tn.
• Sales volumes in the other liquid hydrocarbons segment rose to 60,000 tn in Apr-Jun from 43,000 tn in the year-ago period. In Jan-Mar, sales volumes in the segment stood at 98,000 tn.
Highlights of GAIL management's comments on Apr-June earnings:
• Shri Manoj Jain, Chairman & Managing Director, GAIL stated that the company is focussed on development of National Gas
Grid and currently GAIL, along with its Ns, is executing Pipeline Projects of around 8,000 kms with investment of around Rs.
38,000 crore.
• GAIL is also expanding Polypropylene production capacity by setting up 500 KTA PDHPP Unit at Usar (Maharashtra) and 60
KTA PP unit at Pata (Uttar Pradesh) with an approximate investment of Rs 10,000 crore. During current financial year, GAIL has capex plan of Rs. 6,600 crore. Shri Jain further added that GAIL is exploring possibilities for expanding its footprint in renewable.