A consolidated net profit of ₹4,813.88 crore has been reported by India’s GAIL for Q4 of financial year 2019-2020. The net profit reported in the same quarter of the financial year 2018-2019 was ₹1,523.73-crore. The company statement said adoption of a lower tax regime has been the main reason for the increase.
For the quarter, consolidated total income under review stood at ₹18,893.64 crore. In the same quarter of the previous financial year, it was ₹19,893.11 crore.
Down from ₹77,448.44 crore in 2018-2019, consolidated total income stood at ₹74,114.13 crore for the full financial year 2019-2020. Consolidated net profit for fiscal 2019-2020 stood at ₹9,514.64 crore.
The operations of the company have been normalised to a great extent although there were some reductions in GAIL’s business activities in the initial stage due to countrywide lockdown, GAIL Chairman and Managing Director said.
