GAIL (India) gains after announcing robust Q4 results

GAIL (India) gained 1.15% to Rs 385.70 at 11:30 IST on BSE after the company reported 50.75% rise in net profit to Rs 769.99 crore on 17.73% fall in total income to Rs 11952.82 crore in Q4 March 2016 over Q4 March 2015.

The result was announced after market hours yesterday, 25 May 2016.

Meanwhile, the S&P BSE Sensex was up 137.23 points or 0.54% at 26,020.89.

On BSE, so far 79,837 shares were traded in the counter as against average daily volume of 1.1 lakh shares in the past one quarter. The stock hit a high of Rs 389.85 and a low of Rs 381.75 so far during the day. The stock had hit a 52-week high of Rs 418 on 25 June 2015. The stock had hit a 52-week low of Rs 260.25 on 25 August 2015. The stock had outperformed the market over the past one month till 25 May 2016, rising 5.71% compared with 0.79% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 25.04% as against Sensex's 12.64% rise.

The large-cap company has an equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

GAIL (India) said that the increase in net profit during Q4 March 2016 was mainly due to increase in natural gas sales and transmission volumes. Revenues from natural gas transmission business increased by 11% to Rs 1028 crore in Q4 March 2016 over Q4 March 2015.

Natural gas sales rose 8% to 74.41 million metric standard cubic meter per day (MMSCMD) in Q4 March 2016 over Q4 March 2015. Natural gas transmission rose 11% to 95.31 MMSCMD in Q4 March 2016 over Q4 March 2015.

Gail (India) said that the board of directors of the company recommended the payment of final dividend of Rs 3 per share for the year ended 31 March 2016 (FY 2016).

In terms of the decision of the Government of India to share the under-recoveries on LPG, the company has not provided any discount for Q4 March 2016 compared with provision of zero discount in Q4 March 2015.

GAIL (India) is India's leading natural gas company with a presence along the entire hydrocarbon value chain spanning E&P, LNG, pipelines, LPG, petrochemicals, city gas distribution etc. The Government of India (GoI) held 56.11% stake in GAIL (India) as per the shareholding pattern as on 31 March 2016.

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