GAS AUTHORITY OF INDIA LTD
NSE SYMBOL GAIL
Q3 FY 2011 RESULTS
GAS AUTHORITY OF INDIA has performed reasonably well in Q3 FY 2011 ending December, 2010.
Net Sales has improved to Rs.8364.99 cr – up by 3.22% from Q2 FY 11; Up by 17.88% from Q1 FY 11; Up by 35.18% from Q3 FY 10; On an annualized basis (Q3 FY 11 x 4), it is also up by 33.86% from FY 2010 (stand alone) and by 23.76% from FY 2010 (Consolidated).
Total Expenditure has gone up to Rs.7211.06 cr – up by 5.52% from Q2 FY 11; up by 23.88% from Q1 FY 11; up by a huge 42.54% from Q3 FY 10; and on an annualized basis , it is up by 38.08% from FY 2010(SA); and by 28.73% from FY 10 (CS). As we can see, expenditure has gone up more than proportionately.
Profit from Operations is Rs.1172.56 cr – down by 9.41% from Q2 FY 11; down by 9.43% from Q1 FY 11 mainly due to higher expenditure in Q3 FY 11; up by 2.27% from Q3 FY 10; on annualized basis, it is up by 11.3% from FY 10 (SA) and down by 1.39% from FY 11(CS).
Profit before tax is Rs.1346.70 cr – down by 5.99% from Q2 FY 11; up by 1.88% from Q1 FY 11; up by 7.03% from Q3 FY 10; On annualized basis, it is up by 17.66% from FY 10 (SA) and by 11.68% from FY 10(CS). The PBT is higher mainly due to higher Other Income.
Net Profit is Rs.967.63 cr – up by 4.77% from Q2 FY 11; up by 9.1% from Q1 FY 11; up by 12.52% from Q3 FY 10; on annualized basis, it is up by 23.27% from FY 10; and by 17.56% from FY 10 (CS); The Tax expense in Q3 FY 11 is Lower, hence the NPT is higher.
Basic EPS is Rs.7.63 – compared to Rs.7.28 in Q2 FY 11; Rs.6.99 in Q1 FY 11; Rs.6.78 in Q3 FY 10; Rs.24.75 for the whole of FY 10 (SA) basis and Rs.26.23 for FY 10 (CS basis). The increase in EPS is good in Q3 FY 11;
On this basis, the annual EPS for FY 2011 is likely to be around Rs.29.53 compared to Rs.24.75 in FY 10.
Current market price of the Rs.10 share is Rs.448.50.
Thus, the current PE Ratio is around 15.19.
RESULTS TABLE :
| GAIL | 31-Dec-10 | 30-Sep-10 | 30-Jun-10 | 31-Dec-09 | ||
| Net Sales | 836499 | 810409 | 709595 | 618784 | 2499640 | 2703530 |
| Net Sales | 836499 | 3.22 | 17.88 | 35.18 | 33.86 | 23.76 |
| Other Opertng Income | 1863 | 2413 | 1980 | 1787 | 10685 | 12697 |
| Incrdecr in SIT/WIP | 1791 | -5545 | -7150 | -849 | -2059 | -1995 |
| Raw Materials | 56473 | 49376 | 53413 | 55557 | 219934 | 219934 |
| Traded Goods | 568628 | 557410 | 458421 | 371276 | 1543003 | 1574801 |
| Employees Cost | 16040 | 15376 | 16346 | 25387 | 62120 | 66888 |
| Depreciation | 16054 | 16259 | 15996 | 14091 | 56182 | 82343 |
| Other Expenditure | 62120 | 50503 | 45086 | 40451 | 209723 | 298632 |
| Total Expenditure | 721106 | 683379 | 582112 | 505913 | 2088903 | 2240603 |
| Total Expenditure | 721106 | 5.52 | 23.88 | 42.54 | 38.08 | 28.73 |
| Profit from Operations | 117256 | 129443 | 129463 | 114658 | 421422 | 475624 |
| Profit from Operations | 117256 | -9.41 | -9.43 | 2.27 | 11.3 | -1.39 |
| Other Income | 19059 | 14988 | 4775 | 12590 | 43425 | 45269 |
| Interest | 1645 | 1174 | 2054 | 1422 | 7000 | 38534 |
| Profit before tax | 134670 | 143257 | 132184 | 125826 | 457847 | 482359 |
| Profit before tax | 134670 | -5.99 | 1.88 | 7.03 | 17.66 | 11.68 |
| Tax expense | 37907 | 50902 | 43496 | 39831 | 143863 | 153130 |
| Net Profit | 96763 | 92355 | 88688 | 85995 | 313984 | 329229 |
| Net Profit | 96763 | 4.77 | 9.1 | 12.52 | 23.27 | 17.56 |
| Shares of Associates | | -3554 | ||||
| Consolidated Net Profit | | 332783 | ||||
| Face Value (In Rs | 10 | 10 | 10 | 10 | 10 | 10 |
| Paid Up Equity | 126848 | 126848 | 126848 | 126848 | 126848 | 126848 |
| Basic EPS | 7.63 | 7.28 | 6.99 | 6.78 | 24.75 | 26.23 |
| Diluted EPS | 7.63 | 7.28 | 6.99 | 6.78 | 24.75 | 26.23 |
| Public Holding (%) | 41.7 | 41.74 | 41.84 | 41,39 | 41.54 |
ANNOUNCEMENTS TO NSE
18-01-2011 press release dated January 18, 2011, titled "GAIL third quarter PAT up by 13%, Turnover (net of Excise) up by 35%, GAIL nine months PAT up by 25%, Turnover (net of Excise) up by 28%".
18-01-2011 standalone Results for the quarter ended on 31-DEC-2010 as follows: Net Sales of Rs. 836499 lacs for quarter ending on 31-DEC-2010 against Rs. 618784 lacs for the quarter ending on 31-DEC-2009. Net Profit / (Loss) of Rs. 96763 lacs for the quarter ending on 31-DEC-2010 against Rs. 85995 lacs for the quarter ending on 31-DEC-2009.
24-12-2010 press release dated December 23, 2010, titled "GAIL declares 20% interim dividend".
23-12-2010 Board of Directors of the Company in its meeting held on December 23, 2010 have, inter-alia, approved payment of interim dividend @ 20% (Rs.2/- per equity share) on the paid-up equity share capital of the Company for the Financial Year 2010-11.
03-11-2010 press release dated November 03, 2010 , titled "GAIL second quarter PAT up 30%, Turnover up 30%, GAIL first half PAT up 33%, Turnover up 24%."
03-11-2010 standalone Results for the quarter ended on 30-SEP-2010 as follows: Net Sales of Rs. 810409 lacs for quarter ending on 30-SEP-2010 against Rs. 620218 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 92355 lacs for the quarter ending on 30-SEP-2010 against Rs. 71323 lacs for the quarter ending on 30-SEP-2009.
22-10-2010 press release dated October 22, 2010, titled "GAIL begins construction of Natural Gas pipeline for UP, Uttarakhand."
07-10-2010 press release dated October 06, 2010 , titled "Gail goes full steam on Dabhol- Bangalore Pipeline Places pipeline construction orders worth Rs.677 crore".
02-08-2010 press release dated August 02, 2010, titled "GAIL Q 1 Turnover (net of Excise) increases 18% to 7,096 crore, Net Profit increases 35% to 887 crore".
02-08-2010 press release dated July 31, 2010, titled "GAIL inks pact with BCPL for marketing polymer products".
02-08-2010 standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 709595 lacs for quarter ending on 30-JUN-2010 against Rs. 602142 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 88688 lacs for the quarter ending on 30-JUN-2010 against Rs. 65584 lacs for the quarter ending on 30-JUN-2009.
17-05-2010 press release dated May 17, 2010, titled "GAIL's Turnover Increases 5% to Rs. 24,996 crore in FY 2009-10 - Net Profit up 12% at Rs. 3140 crore - Board recommends total dividend of 75% on paid up capital".
17-05-2010 recommended the payment of Final Dividend @ 55% (Rs. 5.50/- per share) on the paid-up equity share capital of the Company for the FY 2009-10, subject to approval of shareholders in the ensuing Annual General Meeting.
17-05-2010 standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 2499640 lacs for year ending on 31-MAR-2010 against Rs. 2377595 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 313984 lacs for the year ending on 31-MAR-2010 against Rs. 280370 lacs for the year ending on 31-MAR-2009.
17-05-2010 standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 652212 lacs for quarter ending on 31-MAR-2010 against Rs. 610431 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 91082 lacs for the quarter ending on 31-MAR-2010 against Rs. 63002 lacs for the quarter ending on 31-MAR-2009.
17-05-2010 consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 2703530 lacs for year ending on 31-MAR-2010 against Rs. 2465937 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 332783 lacs for the year ending on 31-MAR-2010 against Rs. 282635 lacs for the year ending on 31-MAR-2009
31-03-2010 press release dated March 30, 2010, titled "GAIL starts gas supply to Maruti Suzuki".
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