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GAIL Q1 NP records 16% rise

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Commodity Online
MUMBAI : GAIL (India) Limited has recorded good Q1 growth with its Profit After tax (PAT) registering an increase of 16 percent to Rs.685 crore and turnover increasing 4 percent to Rs. 4,246 crore.

This despite the company sharing Rs 272 crore towards LPG and Kerosene subsidy in the first quarter of the current financial year as compared to a provisional subsidy of Rs 250 crore during the corresponding period the previous year.

The increase in revenue is mainly due to higher per unit realisation from petrochemicals, the increase in production of Petrochemicals by 29 per cent and increase in LPG transmission by 19 percent during the quarter. The decrease in revenues from Natural Gas Transmission was due to the reduction in Tariff for HVJ and KG basin pipeline networks.