GAIL Q4 net profit up 28% to Rs 618 cr

Public sector gas utility GAIL India (GAIL) on Tuesday said that its net profit for the fourth quarter of 2012-13 (Q4) rose 27.89 per cent to Rs 618.18 crore mainly due to a 109 per cent spurt on year-on-year basis in operating margins  in gas trading business to Rs 346.85 crore.

Its net profit for the corresponding period of 2011-12 was Rs 483.34 crore, in a regulatory filing with the BSE. Financial research firm Angel Broking said that tax rate in Q4 increased to 45.8 per cent from 33.9 per cent in the corresponding period of 2011-12, leading to lower growth in net profit.

Its total income from operations in Q4 was Rs 12,470.07 crore, up 18.74 per cent from Rs 10,501.33 crore in the fourth quarter of 2011-12. While income from natural gas transmission business was down 45.86 per cent to Rs 458.14 crore in Q4, yo-y, the operating profit from it plunged 87.50 per cent to Rs 40.57 crore, down from Rs 324.76 crore in the fourth quarter of 2011-12.

Income from natural gas trading in Q4 was Rs 10,552.30 crore, up 15 per cent y-o-y.

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