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

Report of India’s G20 Task Force on Digital Public Infrastructure released

The final ‘Report of India’s G20 Task Force on Digital Public Infrastructure’ by ‘India’s G20 Task Force on Digital Public Infrastructure for Economic Transformation, Financial Inclusion and Development’ was released in New Delhi on Monday. The Task Force was led by the

How the Great War of Mahabharata was actually a world war

Mahabharata: A World War By Gaurang Damani Sanganak Prakashan, 317 pages, Rs 300 Gaurang Damani, a Mumbai-based el

Budget expectations, from job creation to tax reforms…

With the return of the NDA to power in the recently concluded Lok Sabha elections, all eyes are now on finance minister Nirmala Sitharaman’s full budget for the FY 2024-25. The interim budget presented in February was a typical vote-on-accounts, allowing the outgoing government to manage expenses in

How to transform rural landscapes, design 5G intelligent villages

Futuristic technologies such as 5G are already here. While urban users are reaping their benefits, these technologies also have a potential to transform rural areas. How to unleash that potential is the question. That was the focus of a workshop – “Transforming Rural Landscape:

PM Modi visits Rosatom Pavilion at VDNKh in Moscow

Prime minister Narendra Modi, accompanied by president Vladimir Putin, visited the All Russian Exhibition Centre, VDNKh, in Moscow Tuesday. The two leaders toured the Rosatom Pavilion at VDNKh. The Rosatom pavilion, inaugurated in November 2023, is one of the largest exhibitions on the histo

Let us pledge to do what we can for environment: President

President Droupadi Murmu on Monday morning spent some time at the sea beach of the holy city of Puri, a day after participating in the annual Rath Yatra. Later she penned her thoughts about the experience of being in close commune with nature. In a message posted on X, she said:

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter