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GAIL Q1 net profit dives 80 to Rs 255

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State-owned gasoline utility GAIL India Ltd on August 13 posted an 80 % drop in its June quarter web revenue because it suffered losses on the advertising and marketing of pure gasoline and petrochemicals. Standalone web revenue of Rs 255.51 crore, or Rs 0.57 per share, in April-June, was 80.1 % decrease than Rs 1,287.53 crore, or Rs 2.85 a share, web revenue in the identical interval a yr again, the corporate mentioned in a regulatory submitting.

“The sharp decline in monetary efficiency is especially attributable to a big affect in bodily efficiency as a result of nation-wide lockdown through the earlier a part of the quarter coupled with cheaper price realization in petrochemicals, liquid hydrocarbons, and pure gasoline,” it later mentioned in a press release.

The corporate suffered a pre-tax lack of Rs 545.46 crore on the advertising and marketing of pure gasoline within the first quarter of 2020-21 fiscal, as in comparison with a pre-tax revenue of Rs 850.48 crore final yr. Revenues from pure gasoline advertising and marketing too dipped 39 % to Rs 9,443.72 crore because the shutdown of industries led to decrease offtake of the gasoline.

Whereas pre-tax revenue on gasoline transmission enterprise fell 16 %, loss on petrochemical enterprise got here at Rs 154.43 crore.

Whole income from operations at Rs 12,087.46 crore was decrease than Rs 18,311.46 crore income in Q1 of 2019-20.

“In the course of the quarter, pure gasoline transmission and advertising and marketing quantity stood at 90.22 million customary cubic meters per day (mmscmd) and 81.16 mmscmd, as in opposition to 105.41 mmscmd and 96.55 mmscmd respectively in Q1 FY20,” GAIL mentioned.

Petrochemical gross sales and liquid hydrocarbon gross sales stood at 183,000 tonnes and 265,000 tonnes, as in opposition to 136,000 tonnes and 296,000 tonnes respectively throughout Q1 FY20.

In the course of the quarter, the consolidated group turnover stood at Rs 12,180.62 crore, as in opposition to Rs 18,481.56 crore in Q1 FY20 whereas the group’s Revenue after tax (PAT) got here at Rs 642.97 crore, as in opposition to Rs 1,503.67 crore in Q1 FY20.

Manoj Jain, chairman and managing director, GAIL, mentioned that with the gradual leisure of lockdown and improve in financial actions, the bodily efficiency of the corporate has picked up considerably in all segments and the corporate is presently working at close to pre-lockdown ranges.

He additional added that although the capex through the first quarter was affected as a result of lockdown, GAIL expects to considerably enhance capex through the remaining quarters.

First Revealed on Aug 13, 2020 08:48 pm

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