MUMBAI (Commodity Online): India’s public sector natural gas major, GAIL (India) Ltd (BOM: 532155) today announced its financial results for the second quarter of the current fiscal.
The company posted a turnover of Rs.6202 crore for the period, against Rs.6120 crore in the corresponding period last year.
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Company stocks closed in red today after sinking by over 1% at Rs.338.35. The stock has lost over 11% in past five trading session, by falling from Rs.379.40 to its current levels.
Company’s net profit for the second quarter of the FY2009-10 was Rs.713 crore against Rs.1023 crore in the corresponding period previous year.
During the second quarter of the current financial year, revenues from Natural Gas Transmission business have increased by39% to Rs.843 crore as against Rs.606 crore in the corresponding period of previous year. The revenues from petrochemicals business were Rs.616 crore as against Rs.627 crore in the corresponding period of last year.
The revenues from LPG and Liquid Hydrocarbons business during the second quarter of the current financial year were Rs.515 crore as against Rs.1065 crore in the corresponding period of last year.
The revenues from Natural Gas Trading during the second quarter of the current financial year increased by 11% to Rs.4969 crore as against Rs.4484 crore in the corresponding period of the last year.
The revenues from LPG transmission during the second quarter of the current financial year have increased by 14% to Rs.103 crore as against Rs.90 crore in the corresponding period last year.
The decrease in net profit during the second quarter of the current financial year even after increase in turnover was mainly due to lower production and lower price realization of Polymers & Liquid Hydrocarbons.
GAIL has shared Rs.459 crore towards LPG and Kerosene subsidy in the second quarter of the current financial year as compared to Rs.401 crore during the corresponding previous year quarter.
