GAIL’s Profit after Tax 1,262 crore up by 28% for Q3 of FY 2017-18
GAIL (India) Limited registered a 28% increase in Profit after Tax (PAT) in the third quarter of Financial Year 2017-18, as against the corresponding quarter in last fiscal, mainly due to the better performance by Liquid Hydrocarbon (LHC), Gas Marketing & Transmission Segments. The Company’s PAT for the quarter ending 31st December 2017 rose to Rs. 1,262 crore from Rs. 983 crore in the corresponding quarter of the last fiscal. Profit before Tax (PBT) for the third quarter increased by 25% to Rs. 1,858 crores against Rs. 1,484 crore in the corresponding quarter of the last fiscal.
Natural Gas Transmission & Marketing volumes increased by 6% each, Petrochemicals Sales by 21%, Liquid Hydrocarbon Sales by 10% & LPG Transmission by 2% in the third quarter, as compared to the corresponding quarter in previous year.
Similar physical growth in all the segments was recorded for nine months, ending Dec’17 resulting in increase of 31% in PAT (after excluding gain in the previous fiscal from stake sale in Mahanagar Gas Limited ) to Rs. 3,597 crore.
The Board of Directors have recommended, for approval of the shareholders, issue of Bonus Shares in the ratio of One equity shares of Rs 10/- each for Three existing equity shares of Rs 10/- each.