New Delhi, January 18, 2011. GAIL (India) Limited registered a turnover (net of Excise Duty) of Rs. 8365 crore in the third quarter of FY 2010-11 as against Rs.6,212 Crore, a 35 percent increase over the turnover in the corresponding period during the last financial year. GAIL’s Net Profit for the third quarter of the FY 2010-11 increased by 13 percent to Rs. 968 crore against Rs. 860 crore in the corresponding period previous year. The Gross Margin increased by 8 percent to Rs. 1,524 crore in the third quarter of the current financial year against Rs. 1,413 crore in the corresponding period last year. The Profit Before Tax increased  by 7 percent to Rs. 1,347 crore in the third quarter of the current financial year against Rs. 1,258 crore in the corresponding period last year.

Segment-wise Revenue
During the third quarter of the current financial year, revenues from Natural Gas Transmission business have increased by 17 percent to Rs. 1,001 crore as against Rs. 853 crore in the corresponding period of previous year. The net sales from Petrochemicals business have decreased by 30 percent to Rs. 571 crore as against Rs. 815 crore in the corresponding period of last year. The net sales from LPG and Liquid Hydrocarbons business during the third quarter of the current financial year have increased by 2 percent to Rs. 729 crore as against Rs. 712 crore in the corresponding period of last year. The sales from Natural Gas Trading during the third quarter of the current financial year increased by 50 percent to Rs. 6,773 crore as against Rs. 4,527 crore in the corresponding period of the last year. The revenues from LPG transmission during the third quarter of the current financial year have increased by 11 percent to Rs. 129 crore as against Rs. 116 crore in the corresponding period last year.

The increase in net profit during the third quarter of the current financial year was mainly due to the increase in Natural gas transmission, LPG transmission and Natural Gas trading business.

Physical Performance
During the third quarter of the current financial year, the Natural Gas sales were 83.36 MMSCMD, up 3 percent from 81.19 MMSCMD during the corresponding period last year. During the third quarter of FY 2010-11, the petrochemical production was 102 TMT, down 6 percent from 109 TMT in the corresponding period last year. The polymer sales during the third quarter of the current financial year were 81 TMT, decreased by 33 percent from 121 TMT in the corresponding period in the previous year. The LPG transmission during the third quarter of the current financial year was 893 TMT, up by 9 percent from 820 TMT during the corresponding period in the previous financial year. The LPG and Other Liquid Hydrocarbon production during the third quarter of the current financial year was 332 TMT, down 11 percent from 371 TMT in the corresponding period last year. The LPG and Other Liquid Hydrocarbon sales during the third quarter of the current financial year were 331 TMT, down 12 percent from 374 TMT in the corresponding period last year. The Natural Gas transmission during the third quarter of the current financial year was 120.19 MMSCMD, increased by 10 percent from 109.01 MMSCMD in the corresponding period last year.

Nine months Results

GAIL (India) Limited registered a turnover (net of Excise Duty) of Rs. 23,565 crore in the first nine months of FY 2010-11 as against Rs.18,474 Crore, a 28 percent increase over the turnover in the corresponding period  last financial year. GAIL’s Net Profit after tax for the first nine months of the FY 2010-11 increased by 25 percent to Rs. 2,778 crore against Rs. 2,229 crore in the corresponding period previous year. The Gross Margin increased by 24 percent to Rs. 4,633 crore in the first nine months of the current financial year against Rs. 3,745 crore in the corresponding period last year. The Profit Before Tax increased by 25 percent to Rs. 4,101 crore in the nine month of the current financial year against Rs. 3,272 crore in the corresponding period last year.

Segment-wise Revenue
During the nine months of the current financial year, revenues from Natural Gas Transmission have increased by 18 percent to Rs. 2,877 crore as against Rs. 2,429 crore in the corresponding period in the previous year. The net sales from Petrochemicals business have decreased by 8 percent to Rs. 1,930 crore as against Rs. 2,090 crore in the corresponding period of last year. The net sales from LPG and Liquid Hydrocarbons business during the nine months of the current financial year have increased by 17 percent to Rs. 2,246 crore as against Rs. 1,913 crore in the corresponding period of last year. The revenues from LPG transmission during the nine months of the current financial year have increased by 10 percent to Rs. 357 crore as against Rs. 325 crore in the corresponding period last year. The revenues from Natural Gas Trading during the nine months of the current financial year increased by 31 percent to Rs. 18,514 crore as against Rs. 14,138 crore in the corresponding period of the last year.

Physical Performance
The Natural Gas transmission during the nine months of the current financial year was 117.09 MMSCMD, up 12 percent from 104.12 MMSCMD in the corresponding period last year. The Natural Gas sales during the nine months of FY 2010-11 were 82.41 MMSCMD, up 2 percent from 80.73 MMSCMD during the corresponding period last year. During the nine months of the current financial year, petrochemical production was 294 TMT, down 4 percent against 305 TMT in the corresponding period last year. The petrochemical sales during the nine months of the current financial year were 276 TMT, decreased by 8 percent from 301 TMT in the corresponding period in the previous year. The LPG transmission during the nine months of the current financial year was 2,480 TMT, up by 8 percent from 2,289 TMT during the corresponding period in the previous financial year. The LPG and Other Liquid Hydrocarbon production during the nine month of the current financial year were 1,030 TMT, decreased by 5 percent from 1,082 TMT in the corresponding period last year. The LPG and Other Liquid Hydrocarbon sales during the nine months of the current financial year were 1,034 TMT, down 5 percent from 1,087 TMT in the corresponding period last year.