GAIL (India), on Wednesday, reported a 38 per cent drop in its net profit at Rs.483 crore during the fourth quarter ended March 31, 2012, against Rs.783 crore in the year-ago period due to higher fuel subsidy outgo.

The company recorded a turnover (net of excise duty) of Rs.10,454 crore in the fourth quarter of 2011-12 against Rs.8,894 crore, an 18 per cent increase over the turnover in the corresponding quarter during the last financial year.

Addressing journalists here, Chairman and Managing Director B. C. Tripathi said the subsidy outgo rose 51 per cent to Rs.3,183 crore in 2011-12 from Rs.2,111 crore in the previous year. Sales rose 18 per cent to Rs.8,894 crore.

Mr. Tripathi said the turnover in 2011-12 increased by 24 per cent to Rs.40,281crore from Rs.32,459 crore in2010-11.

The profit before tax increased by 2 per cent to Rs.5,340 crore from Rs.5,240 crore. The profit after tax was up 3 per cent at Rs.3,654 crore against Rs.3,561crore.

The gross margin increased by 5 per cent to Rs.6,247 crore from Rs.5,973 crore. The board of directors recommended a final dividend of Rs.5.7 per share for 2011-12.

During the year, sales from natural gas trading increased by 29 per cent to Rs.33,052 crore from Rs.25,667 crore. Net sales from petrochemicals business increased by 15 per cent to Rs.3,415 crore from Rs.2,960 crore and that of LPG and liquid hydrocarbons business by 11 per cent to Rs.3,090 crore from Rs.2,786 crore.

Revenues from natural gas transmission business increased by 2 per cent to Rs.3,852 crore from Rs.3,790 crore while that from LPG transmission declined to Rs.454 crore from Rs.475 crore.

Keywords: GAILQ4 earnings

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