GAIL Q1 Turnover increases 18% to 7,096 cr

Net profit increases 35% to 887 cr

GAIL (India) Limited registered an increase of 18% in Turnover (net of Excise) of ' 7,096 crore in the 1st quarter of FY 2010-11 against '6,039 crore in the corresponding previous year quarter. The Profit Before Tax increased by 34% to '1322 crore in the 1st quarter of the current financial year against ' 987 crore in the corresponding quarter of previous year. The Net Profit during the 1st quarter of FY 2010-11 increased by 35% to ' 887 crore against ' 656 crore in the corresponding previous year quarter.

GAIL has shared ' 445 crore towards LPG and Kerosene subsidy in the first quarter of the current financial year as compared to ' 75 crore during the corresponding previous year quarter.

During the quarter, revenue from LPG transmission has increased by 8 percent to ' 114 crore as against ' 106 crore in the corresponding quarter of last year. The net sales from LPG and Liquid Hydrocarbons business during the first quarter of the current financial year have increased by 14 percent to ' 781 crore as against ' 686 crore in the corresponding quarter of last year. The net sales from Natural Gas Trading during the first quarter of the current financial year have increased by 17 percent to ' 5,452 crore as against ' 4,642 crore in the corresponding quarter of the last year. The revenue from Natural Gas Transmission during the first quarter of the current financial year has increased by 22% to ' 897 crore as against ' 733 crore in the corresponding quarter of the previous year.

The increase in revenue is mainly due to higher volume of Natural Gas Transmission, higher production of LPG & Liquid Hydrocarbons and increase in price of APM gas & Polymers.

The Natural gas transmission during the first quarter of the current financial year was 116.18 MMSCMD as against 96.68 MMSCMD in the corresponding quarter of the last year. The quantity of polymer sales was 88 TMT as against 92 TMT, Liquid hydrocarbons sales were 356 TMT as against 334 TMT in the corresponding quarter in the previous year. The LPG transmission during the first quarter of the current financial year was 788 TMT as against 741 TMT during the corresponding quarter in the previous financial year. The quantity of polymer production was 99 TMT as against 94 TMT, Liquid hydrocarbons production were 361 TMT as against 334 TMT in the corresponding quarter in the previous year.