THE NEWSMAN OF INDIA.COM (PSU Update)
GAIL’s PAT up 133 % in first nine months of current fiscal, touches Rs 3,243 cr
PBT for third quarter up 61 %, PAT up 46 % to Rs 983 cr. B.C. Tripathy is the CMD of GAIL (India) Limited. the company registered a 133% increase in Profit after Tax for the first nine months of Financial Year 2016-17 over the corresponding period last year, with the PAT increasing to Rs 3,243 crore from Rs.1,394 crore.
On quarterly basis, GAIL’s PAT in the third quarter increased by 46% to Rs. 983 crore from Rs. 676 crore in the corresponding period of the last fiscal, buoyed by a turnaround in petrochemicals segment and increase in profitability of Liquid Hydrocarbons segment.
The Company also registered growth in physical performance in all segments on quarter on quarter basis i.e. Petrochemical Sales up by 8%, Liquid Hydrocarbon Sales up by 4% and Natural Gas Marketing & Transmission volumes up by 3% & 2% respectively. The third quarter witnessed a pricing pressure in Petchem business during November and December 2016, PAT grew by 6% sequentially to Rs 983 crore.