Lower price realisation and higher E&P (exploration and production) cost pulled down the fourth-quarter profit of GAIL by 13.75 per cent to Rs 630 crore, said a company release. Net sales, however, grew 23.69 per cent to Rs 6,104 crore.
Public sector GAIL is the country’s largest gas marketing company.
For the year ended March 31, 2009, the company’s net profit grew 7.77 per cent to Rs 2,804 crore and net sales rose 32 per cent to Rs 23,776 crore.
GAIL surpassed the yearly targets, set under an MoU with the Ministry of Petroleum and Natural Gas. As against an MoU target to transmit around 81.5 million metric standard cubic metres a day (MMSCMD) of natural gas from domestic sources and through the LNG route, the company achieved natural gas transmission of 83.29 MMSCMD.
The company also achieved natural gas sales of 79.06 MMSCMD as against the MoU target of around 70 MMSCMD.
