GAIL Declares Record Profits, 54 Thousand Crore Capital Investment

Announces the highest amount of capital expenditure (capital expenditure) for the record dividend and preparation of Clean Fuel Infrastructure.

Best Investment Company reports, Government-owned gas utility GAIL India recorded the highest net profits for the quarter ended March 2019. In addition, to announce a record dividend from the company and to prepare the Clean Fuel Infrastructure, it also announced the largest expenditure of Rs 54,000 crore. This investment will help him to deliver clean fuel to the untouched parts of the country and prepare a gas-based economy.

10 percent higher net profits

During the fourth quarter of the fiscal year 2018-19, the biggest transporters and marketers of natural gas in the country earned a net profit of Rs 1,122 crore with an increase of 10 percent. On the other hand, the net profits of the entire financial year ending March 31, 2019, reached 30 percent growth at Rs 6,026 crore. G.C. Tripathi, chairman and managing director of GAIL India, gave the information in the interaction with the reporters.

1.77 per share final dividend approval

He said that the GAIL board has approved the final dividend of Rs 1.77 per share and thus the dividend of the company during the financial year was Rs 8.02, which is the highest dividend given by the company in the financial year.

Record capital investment of Rs 8,344 crore

He said, "During the financial year 2018-19, the company's total capital expenditure stood at Rs 8,344 crore, which was the highest in any one year. The company also announced a capital expenditure of 54 thousand crores during the next 2-3 years to lay the gas pipeline network for industries like homes and fertilizer plants.

A significant role in preparing the gas based economy

This investment of GAIL is also important because the government is working on increasing the share of gas in the energy sector by 15% to 15%, which is currently 6.2%. The government is increasingly working on the goal of making India a gas-based economy. Natural gas is a clean fuel and this will help in reducing carbon emissions and pollution caused by vehicles.

Announcement of 54 thousand crores investment in 2-3 years

Gale, who owns and operates 14,000 km pipeline network in the country, is working on laying 6,000 km pipeline in eastern and southern areas at a cost of 32 thousand crore rupees. Simultaneously, the company is also investing 12 thousand crores for the transport of CNG network for trains and network for the supply of piped natural gas to households in cities like Varanasi and Patna. The other 10 thousand crores will be imposed on the expansion of petrochemical manufacturing capacities.