State-run GAIL has reported a 28 per cent surge in profit after tax (PAT) to Rs 1,908 crore. However, the company reported a decline in FY 2021 at Rs 4,890.18 crore, as against Rs 6,620.63 crore in FY 2020.
The company reported a turnover of Rs 15,472 crore in Q4 FY21 as against Rs 15,386 crore in Q3 FY21.
Manoj Jain, CMD, GAIL said that the operations of the plant and pipelines were stable and no major shutdown took place during FY 2020-21. During the year, the company's Capex was Rs 6,982 crore mainly on pipelines.
For the whole year 2020-21, the standalone turnover and profit before tax (PBT) stood pf the company was at Rs 56,529 crore and Rs 6,386 crore respectively. The consolidated group turnover for FY 2021 stood at Rs 57,208 crore, PBT was Rs 7,725 crore and PAT was Rs 6,136 crore.
The petrochemical business has shown better performance with more than 100 per cent capacity utilisation. The sales increased by 18 per cent to 871 TMT, the petrochemical plant recorded the highest ever production of 813 TMT. The petrochemical segment reported a PBT of Rs 1,027 crore in FY 2021 on account of better physical performance and improved price realisation.
The company in its filing stated COVID-19 pandemic, globally and in India, is causing significant disturbance in economic and business activities. “It has also temporarily impacted the business activities of the Company. However, the Company has achieved pre-covid operational level of operations.”
In addition, the company stated it has assessed the potential impact of COVID-19 based on the current circumstances and expects no significant impact on the continuity of operations of the business on a long term basis / on useful life of the assets / on financial position etc.