GAIL's Q1 profit up 15 pc at Rs 1,288 crore

Government-owned GAIL India Ltd said on Friday it registered a 15 per cent increase in profit after tax in the first quarter of 2019-20 as against the last quarter of 2018-19.

This was mainly due to a better financial performance by gas marketing, gas transmission segments and liquid hydrocarbon segment. The company's profit after tax for the quarter ending June 30 was Rs 1,288 crore as compared to Rs 1,122 crore in Q4 FY19.

On a year-on-year basis, GAIL's profit after tax of Rs 1,288 crore in Q1 FY20 clocked a growth of 2 per cent against the profit of Rs 1,259 crore in the corresponding quarter of FY19.

Gross sales of Rs 18,276 crore in Q1 FY20 increased by 6 per cent from Rs 17,262 crore in Q1 FY19. Gross margin (EBITDA) witnessed a growth of 2 per cent from Rs 2,363 crore in Q1 FY19 to Rs 2,410 crore in Q1 FY20.

Profit before tax of Rs 1,981 crore in Q1 FY20 was also up by 2 per cent from Rs 1,940 crore in Q1 FY19. '"The increase in net profit in Q1 FY20 was supported by better financial performance in natural gas marketing and transmission segments which outshone a muted performance in petrochemicals," said Chairman and Managing Director Ashutosh Karnatak.

On a consolidated basis, gross sales of Rs 18,445 crore in Q1 FY20 increased by 5 per cent from Rs 17,536 crore in Q1 FY19. Profit after tax of Rs 1,504 crore in Q1 FY20 was up by 4 per cent from Rs 1,443 crore in Q1 FY19.