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GAIL Q1 profit rises 2% to Rs 1,288 crore, revenue up 6% at Rs 18,311 crore

Other income stood at Rs 151.18 crore compared with Rs 119.61 crore in the year-ago period.|
Updated: Aug 09, 2019, 02.51 PM IST
State-run GAIL on Friday said its profit jumped 2.24 per cent to Rs 1,287.53 crore for the June quarter compared with Rs 1,259.25 crore in the same quarter last year.

Revenue for the quarter advanced 5.9 per cent to Rs 18,311 crore from Rs 17,298.59 crore, the company said in a BSE filing.

Other income stood at Rs 151.18 crore compared with Rs 865.88 crore in March quarter and Rs 119.61 crore in the year-ago period.

The company said that PNGRB has issued various provisional transportation tariff orders in respect to natural gas pipeline tariff. Some of these orders have been contested by the company with APTEL, which were remanded back by APTEL to PNGRB for review.

“PNGRB had issued final tariff orders in respect of some of those natural gas pipeline networks. However, these final tariff orders have also been contested by the Company with Competent Authority. Further, adjustment on account of revision, if any, is being recognized as and when the matters are finally decided," the company said.

Among segments, the company reported a drop in revenues in LPG and petrochemicals segments. Revenue was up for natural gas, natural gas marketing and LPG and Liquid Hydrocarbons segments.
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