Gas Authority of India Ltd ( GAIL ) has posted a net profit of Rs 1,094 crore for the July-Sep quarter of FY12, up 18.45% from the year-ago period. Sales of the company also rose 20% at Rs 9,699 crore. These results were marginally ahead of CNBC-TV18 poll which estimated net profit to be at Rs 1030 crore and sales at Rs 9450 crore.
The company said it's fuel subsidy burden for the quarter increased to Rs 567 crore versus Rs 347 crore YoY. Being an upstream company, GAIL had to bear 33% of the under-recoveries which oil marketing companies incur by selling petroleum products below cost.
Meanwhile, the company's gross margins increased by 12% to Rs. 1,792 crore YoY. The company in an earnings statement said that during the, revenues from LPG and Liquid Hydrocarbons business increased by 34% to Rs. 988 crore while that from natural gas trading increased by 20% to Rs. 7,575 crore. Sales from petrochemicals business have seen a rise of 30% at Rs. 938 crore Y-o-Y.
The company said it has planed a capex of Rs 7,200 crore and it is also planning to raise USD 300 million via overseas borrowing. GAIL whiich owns India's biggest gas pipeline network of about 8,700 kilometres, aims to buy four spot liquefied natural gas (LNG) cargoes in the December quarter,
GAIL is also the country's largest gas marketing, transmission and distribution company. It is the principal marketer for the LNG that Petronet LNG imports at Dahej terminal in Gujarat.
In addition, GAIL is a promoter of Ratnagiri Gas and Power Ltd (Dabhol) that owns a near-complete 5 million tons a year import facility on the Maharasthra coast.
Besides having rights for 3 million tons per annum of the import capacity at RGPPL, GAIL is also the agency designated for sourcing LNG requirement for the Ratnagiri LNG Terminal.
Meanwhile, shares of the company closed the day at Rs 425.35,up 1.75% on the Bombay Stock Exchange.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
No comments:
Post a Comment