GAIL India Limited has reported a 500 per cent year-on-year rise in its net profit during first quarter of financial year 2021-22 on the back of higher sales and margin boost in gas as well as petrochemicals. Net profit of Rs 15.29 billion in April-June 2021 was up from Rs 2.55 billion during the same period in 2020. The April-June 2020 quarter was heavily impacted by reduced economic activity and restricted mobility due to a Covid-19 induced nationwide lockdown. This impacted gas sales and demand for petrochemicals.
GAIL India Limited along with its joint ventures is currently executing pipeline projects of around 8,000 km with an investment of around Rs 380 billion. Further, during the current financial year, GAIL has a capital expenditure plan of Rs 66 billion.