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Delhi: GAIL (India) Ltd recorded sales (net of excise
duty) of Rs3,475 crore in the third quarter of 2004-05,
against Rs2,892 crore in the corresponding quarter of
2003-04, registering a 20.16 per cent growth QoQ. The
company''s gross margin increased by 50 per cent to Rs1164
crore (Rs777 crore) and the net profit (PAT) clocked a
64 per cent incremental increase at Rs635 crore versus
Rs387 crore, owing to better tax planning. This is despite
a subsidy burden of Rs363 crore on account of LPG and
kerosene for the quarter, sharing the under-recoveries
of the PSU oil marketing companies on PDS kerosene and
domestic LPG.
The
increase in net profit is because of the increase in volume
of natural gas transmission owing to R-LNG and LPG transmission,
increase in the petrochemical and LPG prices, gas trading
activities in R-LNG and the other income of the company
in the quarter.
Sales
including internal consumption and net of excise duty
over the first three quarters amounts to Rs10,003 crore,
15 per cent up from Rs8,686 crore over the corresponding
period last year. GAIL''s petrochemical business made a
significant contribution to its sales and profit. Petrochemical
products accounted for sales of Rs429 crore in Q305, up
from Rs360 crore in Q304.
A
net capitalisation of Rs516 crore has been made during
the period ended December 31, 2004, which mainly includes
the Vizag-Secunderabad pipeline (VSPL), the compressor
station of the Dahej-Vijaipur pipeline (DVPL), the debottlenecking
project at the Pata petrochemical plant and the South
Gujarat pipeline.
Financial
Highlights:
- Turnover
up 20.16 per cent to (Rs3,475 crore v/s Rs2,892 crore).
- Natural
gas transmission turnover up 25 per cent (Rs576 crore
v/s Rs460 crore).
- LPG
transmission up 27 per cent (Rs85 crore v/s Rs67 crore).
- Gas
trading up 24 per cent (Rs2,061 crore v/s Rs1,667 crore).
- Petrochemicals
up 19 per cent (Rs429 crore v/s Rs360 crore).
- LPG
and other liquid hydrocarbons up 3 per cent (Rs496 crore
v/s Rs483 crore).
- GAILTEL
turnover down (Rs4 crore v/s Rs7 crore) on lower price
realisation.
- Gross
margin up by 50 per cent (Rs1,164 crore v/s Rs777crore).
- EPS
is Rs7.51 against Rs4.57.
- Debt-Equity
ratio is healthy at 0.24:1.
Performance
Highlights:
- Natural
Gas transmission up 17 per cent (73.29 MMSCMD v/s 62.49
MMSCMD).
- LPG
Transmission up 29 per cent (603 KT v/s 466 KT).
- Petrochemicals
and LPG production same as in Q304.
- Other
Liquid Hydrocarbon production up 5 per cent (81 KT v/s
77 KT).
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