GAIL’s Q4 net profit up 10% to Rs 1,122 cr

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Mumbai, May 27 (IANS) Natural gas utility major GAIL on Monday reported a rise of 10 per cent in its net profit for the fourth quarter of 2018-19.

According to the company, Q4 net profit increased to Rs 1,122 crore in the three months ended March 2019 from Rs 1,020.92 crore reported for the corresponding period during the previous fiscal.

“During the quarter, the company registered growth in physical performance in all segments as compared to corresponding period of the previous year with ‘Natural Gas Marketing’ up by 10 per cent…,” the company said in a statement.

On fiscal 2018-19 basis, GAIL’s profit after tax increased by 30 per cent to Rs 6,026 crore from Rs 4,618 crore during 2017-18 on the back of healthy “physical performance in all segments and better realisations”.

“During the year 2018-19, the total consolidated group turnover stood at Rs 75,912 crore while the Group PAT was Rs 6,546 crore,” the statement said.

“CGD group companies IGL, MGL, GAIL Gas and Petronet LNG continued to add to the group profit. Taking together the impact, Earning per share as per consolidated statement is Rs 29.03 in FY19 as against Rs 21.28 per share in the previous year.”

Additionally, the company’s Board recommended a final dividend of Rs 1.77 per share, on paid-up equity making the total dividend for the year to Rs 8.02 per share, subject to shareholders’ approval.

“The Board has also recommended one fully paid-up Bonus share for every one equity shares held (subject to approval of shareholders),” the statement added.

–IANS

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