GAIL (India) rose 3.07% to Rs 102.30 after the company's consolidated net profit surged 216% to Rs 4,813.88 crore in Q4 FY20 from Rs 1,523.73 crore in Q4 FY19.
Net sales fell 6% year-on-year (YoY) to Rs 17,922.79 crore during the quarter. Total expenses in the fourth quarter declined 10.6% YoY to Rs 15,951.66 crore during the period under review.
Profit before tax stood at Rs 3,598.70 crore in Q4 March 2020, up by 61.6% from Rs 2,226.82 crore in Q4 March 2019.
Current tax expense tumbled 64% YoY to Rs 203.24 in Q4 FY20 over Q4 FY19. The company has exercised lower tax option from current financial year 2019-20. The deferred tax liability (net) has been re-measured as per lower tax rate and accordingly an amount of Rs 1654.81 crore has been reduced. Further provision has been created for MAT Credit entitlement of Rs 240.89 crore.
GAIL (India) is an integrated energy company in the hydrocarbon sector and is engaged in gas marketing. As of 31 March 2020, the Government of India held 52.49% stake in the company.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
