GAIL tops carbon disclosure index list in PSUs -Governance Now

GAIL tops carbon disclosure index list in PSUs

GN Bureau | November 18, 2015

#PSU #GAIL #Carbon Disclosure Leadership Index #CDLI #Carbon Disclosure Project #CDP #India

State-owned natural gas processing and distribution company GAIL (India) Limited has topped the public sector undertakings in the Carbon Disclosure Leadership Index (CDLI) released by Carbon Disclosure Project (CDP)-India.

GAIL scored 98 out of maximum 100 in CDLI, an increase of 12 points from last year's score. A high disclosure score signals that a company provided comprehensive information about the measurement and management of its carbon footprint, its climate change strategy and risk management processes and outcomes.

CDP India's Climate Change 2015 report analyses the key trends coming out of the analysis of the responding Indian companies. The CDLI disclosure score assesses the completeness and quality of a company's response.

Santanu Roy, General Manager (Corporate Planning) says: "GAIL would like to play a leading role in collaborating with other Indian oil and gas players for making positiv impact of the sector specific sustainability and climate change."

Meanwhile, GAIL India 's July-September quarter earnings missed analysts' estimates on profit and operational front but revenue was ahead of expectations.

Profit grew by 3.9 percent sequentially to Rs 440.5 crore during the quarter, impacted by inventory loss despite strong other income. Revenue increased 12.7 percent to Rs 14,165 crore in September quarter compared to Rs 12,565 crore in preceding quarter.

Operating profit (earnings before interest, tax, depreciation and amortisation) during the quarter fell 19.2 percent to Rs 844 crore and margin contracted by 230 basis points to 6 percent on sequential basis. GAIL has reported an inventory loss of Rs 701.2 crore for the quarter against gain of Rs 383.3 crore in preceding quarter. Other income in same period shot up 284 percent to Rs 301.8 crore from Rs 78.6 crore.

New contract
Consortium of BPCL and Gail Gas has been awarded the authorization for laying, building, operating and expanding of a City Gas Distribution Network in the geographical area of Haridwar district by the Petroleum and Natural Gas Regulatory Board established under the PNGRB Act, 2006.

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