NEW DELHI:State run gas utility GAIL India on Thursday reported a fourfold increase in its Q4 standalone net profit to Rs 1,021 crore as against a net profit of Rs 260 crore recorded in the corresponding quarter last year.
The profit in fourth quarter was higher due to a one-off impairment GAIL had taken on its investment in Dabhol LNG terminal in the corresponding quarter of previous fiscal.During the fourth quarter, sales for the company grew 12.84 per cent to Rs 15,430.69 crore from Rs 13674.09 crore in the year-ago quarter.
For the full financial year 2017-18, GAIL recorded its highest ever annual Profit after Tax of Rs 4,618 crore, a rise of 32 per cent from Rs 3,503 crore in the last fiscal. In FY2018, the company’s turnover was up by 10 per cent at Rs 53,690 crore.
The Board has recommended a final dividend of Rs 1.44 /share on post bonus enhanced equity (subject to approval of shareholders) making the total dividend of Rs 7.18 per share on post bonus enhanced equity for the year. The earning per share is also up by 32 per cent to Rs 20.48/share on increased paid-up equity.