GAIL Q1 net up 22 pc to Rs 592 crore

Mumbai, July 17 (UNI) The state owned gas transporter GAIL (India) Ltd has posted a net profit of Rs 592.08 crore for the quarter ended June 30, 2006 as compared to Rs 483.48 crore for the quarter ended June 30, 2005, showing an increase of 22 per cent.

Announcing this, GAIL's press release stated that its total income has increased from Rs 3674.14 crore in Q1 FY 05-06 to Rs 4810.40 crore for Q1 FY 06-07. The company pointed out that its total income is inclusive of its Internal Consumption.

An enhanced provision of Rs 250 crore towards subsidy sharing on LPG and Kerosene has been made in the first quarter of the current financial year as against a provision of Rs 153 crore in the corresponding quarter in the previous year.

During the first quarter of the current financial year, the revenues from Petrochemicals business increased by 50 percent to Rs 550 crore from Rs 367 crore in the corresponding period of last year. The revenues from Natural Gas Trading during the first quarter of the current financial year have increased by 35 percent to Rs 2,978 crore from Rs 2,205 crore in the corresponding period of last year.

The revenues from Natural Gas Transmission during the first quarter of the current financial year have increased by 4.5 percent to Rs 600 crore from Rs 574 crore in the corresponding period of last year.

The revenues from LPG transmission during the first quarter of the current financial year have increased by 6 percent to Rs 71 crore from Rs 67 crore in the corresponding period last year. The revenues from LPG and Liquid Hydrocarbon business during the first quarter of the current financial year have increased by 26 percent to Rs 641 crore from Rs 507 crore in the corresponding period of last year.

During the first quarter of the current financial year, polymer sales were 81,000 MT, up 29 percent from 63,000 MT in the corresponding quarter in the previous year. The LPG transmission during the first quarter of the current financial year was 522,000 MT, up 7 percent from 487,000 MT during the corresponding quarter in the previous financial year.

The LPG and Other Liquid Hydrocarbon sales were up 8 percent to 356,000 MT during the current financial year, as against 330,000 MT during the corresponding quarter in the previous financial year. The Natural Gas transmission during the first quarter of the current financial year was 79.05 MMSCMD as against 78.93 MMSCMD during the corresponding quarter of the previous financial year. During the first quarter of the current financial year, the Thulendi-Phulpur pipeline was commissioned.

UNI SN PM SKB1943