GAIL India - the country's leading natural gas corporation, announced its April-June quarter results for the financial year 2021-22 reporting a net profit of Rs 2,157 crore on a consolidated basis, compared to Rs 642.97 crore in the corresponding period last year, registering a growth of 235 per cent year-on-year. The surge in net profit was mostly driven by higher sales and margin boost in gas and petrochemicals.
The state-run organisation's revenue from operations stood at Rs 17,588.64 crore in the first quarter of the current fiscal, compared to Rs 12,183.23 crore in the same quarter last year, marking a growth of 44 per cent year-on-year. The total income stood at Rs 17,702.43 crore, compared to Rs 12,339,12 crore in the year-ago period, according to a regulatory filing by the company to the stock exchanges.
During the June quarter, the margins on gas sales helped the organisation to drive a segment profit of Rs 377.61 crore, compared to a loss of Rs 545.46 crore last year. The margin was higher than Rs 280.89 crore profit reported in the preceding January-March quarter of fiscal 2020-21.
The net profit from the petrochemical business stood at Rs 138.30 crore in the June quarter, compared to a loss of Rs 154.43 crore in the year-ago period. The natural gas segment reported a revenue of Rs 1,483.74 crore, compared to Rs 1,268.13 crore in the corresponding period last year.
Headquartered in New Delhi, GAIL India is the country's leading natural gas corporation responsible for natural gas processing and distribution in the hydrocarbon sector.
On Thursday, August 5, shares of GAIL India settled 0.32 per cent higher at Rs 142.90 apiece on the BSE.