GAIL profit up, to pay 40 p.c.

By Our Special Correspondent

NEW DELHI, JUNE 23. The public sector Gas Authority of India (GAIL) has reported a higher profit after tax of Rs. 1,126 crores during 2000-01 against Rs. 861 crores in the previous year. The directors have therefore proposed a 40 per cent dividend against 30 per cent in 1999-2000. The total pay-out on this account will be Rs. 373 crores (Rs. 282 crores).

Sales turnover during the year is estimated at Rs. 10,059 crores against Rs. 8,415 crores while the gross margin rose to Rs. 2,350 crores from Rs. 1,626 crores.

Gas throughput increased to 23 billion cubic metres (bcm) from 22 bcm in 1999-2000 while LPG and other liquid hydrocarbon production rose to 9.05 lakh tonnes from 8.66 lakh tonnes in the previous year, according to a GAIL release. The output of petrochemicals touched 1.94 lakh tonnes against 1.18 lakh tonnes.

The company has recently commissioned the 1,230 km Jamnagar-Loni LPG pipeline while phase-I of the Taj trapezium gas supply project has been launched. Trial production at the LPG plant at Gandhar has commenced ten months ahead of schedule.

During the year, GAIL completed phase-I of the pipeline network in Krishna Godavari basin enhancing the capacity from 3.5 to 6.5 million square cubic metres a day while phase-II has been launched to raise capacity to 12 mscmd. A detailed feasibility study has also been undertaken to upgrade the HBJ pipeline capacity to 60 mscmd. Similarly, a techno-economic feasibility study has been taken up for gas pipeline infrastructure development in Kerala and Karnataka.

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Section  : Business
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