GAIL posts 38 pc rise in Q4 profit

State gas utility GAIL India Ltd today reported a 38.7 per cent rise in March quarter net profit on the back of higher volumes of gas transmission and bigger trading margins.
Net profit in January-March quarter at Rs 770 crore was higher than Rs 511 crore in the same period a year ago, GAIL Chairman and Managing Director B C Tripathi told reporters here.
Turnover however fell 18.3 per cent to Rs 11,627 crore.
"Profit was higher because of higher (gas) transmission and trading margins," he said.
Sales, he said, fell due to 15 per cent drop in petrochemicals prices and 38 per cent decline in LPG price realisations.

For the full fiscal 2015-16, the company reported a net profit of Rs 2,299 crore on a turnover of Rs 51,614 crore. In the previous financial year, it had a net profit of Rs 3,039 crore on a turnover of Rs 56,569 crore.
Tripathi said GAIL will import 55 shiploads or cargoes (3.5 million tons) of liquefied natural gas (LNG) in 2016-17, unchanged from the volume imported in the previous fiscal.
GAIL shares closed 2.76 per cent higher at Rs 381.30 on the BSE. Results were announced after the markets closed for the day.