State-owned natural gas processing and distribution firm GAIl (India) ltd on Wednesday has posted 38.7 per cent increase in the net profit for the fourth quarter of this fiscal. “The result realisation is due to only higher transmissions and higher gas-trading margins,” the GAIl (India) Chairman and Managing Director BC Tripathi told reporters here.
Net profit for the quarter stood at Rs770 crore compared with Rs511 crore in the same quarter last year. However, during the quarter, the company’s turnover fell 18.3 per cent to Rs11,627 crore due to a fall in petrochemicals and lPG realisations. In the same quarter last year, the company’s turnover was Rs14,235 crore.
“The company realised profit owing to higher because of higher gas transmission and trading margins, but sales fell due to 15 per cent drop in petrochemicals prices and 38 per cent decline in lPG price realizations,” Tripathi added.