GAIL Earnings: Company's profit has jumped in fourth quarter of 2020-21Maharatna company Gas Authority India Limited (GAIL) recorded a 28 per cent jump in its profit after tax for the fourth quarter of 2020-21, as it stood at Rs 1,908 crore.
It was at Rs1,487 crore in the third quarter of the previous fiscal.For the whole year of 2020-21, the stand alone turnover, profit before tax and profit after taxstood at Rs56,529 crore, Rs6,386 crore and Rs4,890 crore respectively.The consolidated group turnover for the 2020-21stood at Rs57,208 crore, profit before taxwasRs7,725 crore and profit after taxwas Rs6,136 crore.The company's revenue for the January-March quarter stood at Rs 15,449 crore, while EBITDA (earnings with interest, taxes, depreciation, and amortisation) was Rs 2,465 crore.Chairman and Managing Director of GAIL, Manoj Jainsaid that the operations of the plant and pipelines werestable and no major shutdown took place during 2020-21.During the year, company's capex was Rs6,982 crore mainly on pipelines, he added.He further said thatunder the aegis of Ministry of Petroleum and Natural Gas, GAIL's management has given a thrust to expand in the areas of compressed biogas, ethanol and renewable energy.