GAIL q4 profit surges 45%, declares 55% dividend | business | Hindustan Times
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GAIL q4 profit surges 45%, declares 55% dividend

business Updated: May 17, 2010 20:43 IST

State-run Gail India on Monday posted a 44.6 per cent surge in net profit at Rs 911 crore for the fourth quarter ended March 31, 2010, as against Rs 630 crore in the corresponding period a year earlier.

Total income of the government-run gas utility increased to Rs 6,671 crore during the January-March period from Rs 6,346 crore of the same quarter a year ago, the company said in a filing to the BSE.

The company has declared a final dividend of 55 per cent (Rs 5.50 per share) for 2009-10. For the year ended March 31, 2010 Gail posted a net profit of Rs 3,140 crore, 12 per cent higher than Rs 2,804 crore in the previous fiscal. Total income also rose to Rs 25,538 crore during 2009-10, from Rs 24,695 crore in the previous fiscal.

The sales from natural gas trading during the current fiscal year increased 3 per cent to Rs 18,803 crore as against Rs 18,308 crore in last year. Net sales from petrochemicals business have increased 2 per cent to Rs 2,912 crore as against Rs 2,850 crore last year.