labels: industry - general, oil & gas, economy - general, gas authority of india limited
GAIL records Rs 1947 crore net profit in FY 2004-05news
Our Corporate Bureau
02 May 2005

Mumbai: GAIL (India) Limited today announced its un-audited annual financial results for the financial year 2004-2005. The company has recorded growth in all key physical as well as financial parameters in the Financial Year 2004-05.

According to provisional figures, the highlights of GAIL''s financial and physical performance in FY 2004-05 are:

  • Turnover (excluding internal consumption and net of excise duty) up 15 per cent to Rs12,435 crore from Rs10,827 crore in FY 2003-04
  • Profit After Tax up 4 per cent to Rs1,947 crore from Rs1,869 crore in the last year
  • Gas Transmission up 16 per cent to 72.86 MMSCMD from 62.84 MMSCMD in the previous financial year
  • Polymer Sales up 17 per cent to 3,19,000 MT from 273, 000 MT in the last financial year
  • PG Transmission up 16 per cent to 2.14 million MT from 1.84 million MT in FY 2003-04

The increase in the turnover was due to increase in natural gas sales / transmission on account of supply of R-LNG, increase in polymer sales and increase in LPG transmission due to increase in throughput in the Jamnagar — Loni LPG Pipeline and commissioning of Vizag — Secunderabad LPG pipeline.

The company expects that without the 166 per cent increase in sharing LPG and kerosene subsidies to Rs1,138 crore (from Rs.428 crore in 2003-04), the PAT would have registered an increase of 26 per cent over the last fiscal. The subsidy burden due to kerosene subsidy alone has been Rs601 crore, which is 53 per cent of the total burden.

GAIL, is a natural gas major, focused on all aspects of the gas value chain including exploration and production, gas marketing and transmission, gas processing, LPG production, petrochemicals and telecom. It has equity participation in three retail gas companies in Egypt — Fayum Gas Company, NATGAS and Shell CNG, Egypt and has acquired 10 per cent equity in China Gas Holdings in China and is involved in exploration in Egypt, China, Iran, Myanmar, Russia, Kazakastan, Bangladesh, Turkey, and Romania. GAIL Global (Singapore) Pte Ltd in Singapore is a wholly-owned subsidiary company.


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GAIL records Rs 1947 crore net profit in FY 2004-05