Gas utility GAIL India today said that its revenues from gas transmission and distribution will double to Rs 3,000 crore by the end of next year, as enhanced gas output from new fields will lead to the doubling of its supply capacity.
"In one or two years time, our earnings from gas transmission will be doubled from Rs 1,600 crore to Rs 3,000 crore," GAIL Chairman and Managing Director U D Choubey told reporters here.
He was replying to question on how its revenues would be augmented after Reliance Industries' KG-D6 field in Western Offshore comes onstream shortly.
"Earnings will be doubled as we supply more gas. At present, we supply 85 million standard cubic metres per day (mmscmd) of gas and by end of next year, we will reach 150-160 mmscmd," Choubey said.
He said RIL's oil and gas field coming onstream is "good news" for them as well as for consumers. "We have already created a pipeline to evacuate all the gas in the field."
Choubey was attending a function in the city where the Ministry of Petroleum and Natural Gas awarded 16 petrol pump and CNG outlet dealerships to the kin of those martyred in Mumbai's terror attacks.
As part of its corporate social responsibility (CSR), the company has awarded a cheque of Rs 20 crore for upgradation of the cancer treatment department at Cama Hospital, one of the places the terrorists had attacked.
"GAIL's board has approved a policy whereby one per cent of the PAT (profit after tax) will be earmarked for CSR. We are presently giving Rs 20 crore and this will be doubled in the next financial year," Choubey said.
