By ICN GroupGas, June 24, 2020
GAIL records 10% increase in PAT
PAT stood at Rs. 9,422 crore, up by 44% as compared to the last fiscal year.
GAIL (India) recorded a Profit after Tax (PAT) of Rs. 6,621 crore for the FY 2019-20, a rise of 10% from Rs. 6,026 crore over FY 2018-19.
The turnover for the year stood at Rs. 71,730 crore as against Rs. 74,808 crore in the last fiscal whereas the Profit Before Tax (PBT) in the current year stood at Rs. 7,943 crore as against Rs. 9,085 crore during the previous year. The increase in PAT is mainly due to adoption of a lower tax regime. The Earning per share in FY 2019-20 was Rs. 14.68 as against Rs. 13.36 (adjusted) in the previous year.
On quarterly basis, GAIL recorded a turnover of Rs. 17,709 crore, PBT of Rs. 2,556 crore and PAT of Rs. 3,018 crore in Q4 FY 2019-20. The PBT and PAT recorded an increase of 47% and 169% respectively vis-a-vis the corresponding period in the last fiscal year.
During FY2019-20, the consolidated turnover of the GAIL group companies stood at Rs. 72,414 crore, down 5% from previous year while the group PAT was Rs. 9,422 crore, up by 44% as compared to the last fiscal year. The group companies mainly Indraprastha Gas Limited, Mahanagar Gas Limited, GAIL Gas Limited, Petronet LNG Limited, Konkan LNG Limited and Brahmaputra Cracker & Polymer Limited contributed to add to the group consolidated profit.
Manoj Jain, Chairman & Managing Director, GAIL said that the company had made Capex of Rs. 6,100 crore in the current FY 2019-20, mainly in the ongoing pipeline projects.