GAIL (India) Limited

Press Release

GAIL registers Turnover of Rs. 56,569 crore in FY 2014-15 & Rs. 14,235 crore in Q4
Net Profit at Rs. 3,039 crore in FY 2014-15 & Rs. 511 crore in Q4

New Delhi, May 27, 2015: As per the audited financial results for the year 2014-15, GAIL (India) Limited registered a Turnover (net of excise duty) of Rs. 56,569 crore as against Rs. 57,245 crore in the previous fiscal. The Gross Margin during 2014-15 stood at Rs. 5,557 crore as against Rs. 7,599 crore last year. The Profit Before Tax during the year was Rs. 4,284 crore as against Rs. 6,402 crore in the previous year. The Profit After Tax in 2014-15 was Rs. 3,039 crore while it was Rs. 4,375 crore in the previous year.

Segment-wise Revenue
During the current financial year, sales from Natural Gas Marketing increased to Rs. 49,174 crore from Rs. 48,922 crore in previous year. The net sales from Petrochemicals business have increased by 3% to Rs. 4,720 crore as against Rs. 4,582 crore in previous year. The net sales from LPG and Liquid Hydrocarbons business during the current financial year was Rs. 5,053 crore as against Rs. 5,462 crore in last year. Revenues from Natural Gas Transmission business stood at Rs. 3,349crore as against Rs. 4,104 crore in last year. Revenues from LPG transmission during the current financial year have increased by 6% to Rs. 441 crore as against Rs. 418 crore in previous year.

The decrease in net profit during the current financial year was mainly due to decrease in volume of Natural Gas Marketing, decrease in volume of Natural Gas Transmission, Tariff reduction by PNGRB for some of the pipelines, lower price realisation of Liquid Hydro Carbon products and increase in cost of production of Polymers due to usage of more RLNG.

Physical Performance
During FY 2014-15, petrochemical production increased by 3% to 447 TMT as against 436 TMT in the last year. During the current financial year, polymer sales stood at 441 TMT as against 445 TMT in the previous year. During the current financial year, LPG and Other Liquid Hydrocarbon production was 1,276 TMT as against 1,303 TMT in the last year. The LPG and Other Liquid Hydrocarbon sales during the current financial year was 1,277 TMT, as against 1,307 TMT last year. The LPG transmission during the current financial year stood at 3,093 TMT as against 3,145 TMT in the previous year. The Natural Gas transmission volume was 92.10 MMSCMD as against 96.22 MMSCMD in the previous year. The Natural Gas sales during the current financial year were 72.07 MMSCMD as against 79.18 MMSCMD in the previous year.

During the year 2014-15, as per consolidated financial statements, the total group sales (net of Excise Duty) were Rs. 60,704 crore. The consolidated Gross Margin was Rs. 4,430 crore, the Profit Before Tax was Rs. 4,492 crore and Group Profit After Tax was Rs. 3,160 crore.

The Earning Per Share (EPS) was Rs. 23.96 per share in the year 2014-15 as against Rs. 34.49 per share in the year 2013-14. The EPS as per consolidated financial results was Rs. 24.91 per share as against Rs. 34.48 per share in the previous year.

Q4 Results of 2014-15
GAIL (India) Limited registered a turnover (net of Excise Duty) of Rs. 14,235 crore in the fourth quarter of FY 2014-15 as against Rs. 14,464 Crore in the corresponding quarter during the last financial year. The Gross Margin for the fourth quarter of the FY 2014-15 was Rs. 903 crore as against Rs. 1,851 crore earlier. The profit before tax for the fourth quarter stood at Rs. 558 crore as against Rs. 1,439 crore. GAIL's Net Profit after tax for the fourth quarter was Rs. 511 crore against Rs. 972 crore in the corresponding quarter of previous year.

Segment-wise Revenue
During the fourth quarter of the current financial year, net sales from LPG and Liquid Hydrocarbons business stood at Rs. 1,035 crores as against Rs. 1,486 crores in the corresponding period of last year. The net sales from Petrochemicals business have increased by 2% to Rs. 1,200 crore as against Rs. 1,180 crore in the corresponding period of last year. Revenue from Natural Gas Marketing have increased by 3% to Rs. 12,519 crore as against Rs. 12,198 crore in the corresponding period of the last year. The revenues from Natural Gas Transmission business have increased by 9% to Rs. 927 crore as against Rs. 849 crore in the corresponding period of previous year. The revenues from LPG transmission have increased by 8% to Rs. 124 crores as against Rs. 115 crores in the corresponding period last year.

The decrease in net profit in the fourth quarter of FY 2014-15 was mainly due to decrease in volume of Natural Gas Marketing, decrease in volume of NG Transmission, lower price realisation of Polymers & Liquid Hydro Carbon products and increase in cost of production of Polymers due to usage of more RLNG.

Physical Performance
During the fourth quarter of the current financial year, the Natural Gas sales were 68.70 MMSCMD as against 76.26 MMSCMD during the corresponding quarter of last year. The Natural Gas transmission during the fourth quarter of the current financial year of 86.15 MMSCMD as against 94.66 MMSCMD in the corresponding period last year. During the fourth quarter, the petrochemical production was 111 TMT, an increase of 34% from 83 TMT in the corresponding quarter last year. The polymer sales during the fourth quarter of the current financial year have increased by 23% to 132 TMT as against 107 TMT in the corresponding quarter in the previous year. The LPG transmission during the fourth quarter of the current financial year was 788 TMT as against 863 TMT during the corresponding quarter in the previous financial year. The LPG and Other Liquid Hydrocarbon production during the fourth quarter of the current financial year increased by 4% to 299 TMT as against 288 TMT in the corresponding quarter of last year. The LPG and Other Liquid Hydrocarbon sales during the fourth quarter of the current financial year increased by 5% to 303 TMT as against 289 TMT in the corresponding period last year.

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