GAIL clocks 57% rise in profit after tax in 2016-17 FY

The rise in profit was boosted mainly by a turnaround in the company’s petrochemical business

GN Bureau | May 23, 2017


#PSU   #GAIL   #profits  
GAIL (India) Limited has registered 57 percent rise in profit after tax (PAT) for the 2016-17 fiscal with the PAT increasing to Rs 3,503 crore from Rs 2,226 crore in the last fiscal.
 
The rise in profit was boosted mainly by a turnaround in the company’s petrochemical business, increase in profits from gas transmission business and partial sale of stake in Mahanagar Gas Limited (MGL), despite lower price realisation in Polymer and Liquid hydrocarbons. These results are after considering impairment of investment in Ratnagairi Gas and Power Pvt. Ltd. (RGPPL) in 4th quarter of FY 2016-17 for Rs 783 crore.
 
The company registered growth in physical performance in FY 2016-17 in all segments on year-on-year basis. Sale of petrochemicals was up by 73 percent, Natural Gas Marketing & Transmission volumes raised by 10 percent and nine percent respectively, LPG Transmission volume was up by 19 percent while liquid hydrocarbon sales went up by two percent.
 

Comments

 

Other News

Allegations against CJI: Inquiry will strengthen the independence of the judiciary

Yes, we must stand rock solid with the judiciary and the judges. We must protect the independence of the judiciary too. What does this mean in the present context of a very serious charge of sexual harassment levelled by a former employee of the court against the CJI?  We are told that there is a larg

“Managing data is challenging”

The Centre for Railway Information Systems (CRIS) is a society set up by the railways ministry in July 1986 to provide IT related services to the Indian Railways. CRIS deals in a gamut of functions, like passenger ticketing, freight operations, train dispatching and control, crew management, e-procurement,

A boost to those who need it most

What are 600 million people? Almost twice the population of the US. What are 500 million people? About three-fourth of the population of Europe. Why are we talking about these numbers? Well, because as per a study by Sandhya Krishnan and Neeraj Hatekar (‘Rise of New Middle Class in India and Its

Expanding Eureka!

Abright yellow van with figures of children playing with a whirligig, a Newton’s cradle, a magnetic compass rolls into the Government Higher Primary School in Kittaganahalli, on the outskirts of Bengaluru. Students in the playground leave what they are doing and mill about it in excitement. For they

The spark in the classroom

Not many children dream of starting an idyllic school of their own when they grow up. But Ramji Raghavan, founder of the Agastya International Foundation – which fosters the creative learning of science in stude

Trafficking survivors’ votes don’t count

While the entire nation is agog with political grapevine, political parties are weighing on all options to lure voters by touching upon issues that impact their lives. Several parties, including the BJP and the Congress have released their manifestos while many are about to join the bandwagon. The



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter