GAIL Q2 PAT seen up at Rs 1030 cr

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GAIL Q2 PAT seen up at Rs 1030 cr

State-owned GAIL is likely to report a profit after tax of Rs 1,030 crore for the second quarter of FY12 as against Rs 923.5 crore in the corresponding quarter of last fiscal (if assumes subsidy at 2.7% of overall burden).

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State-owned GAIL is likely to report a profit after tax of Rs 1,030 crore for the second quarter of FY12 as against Rs 923.5 crore in the corresponding quarter of last fiscal (if assumes subsidy at 2.7% of overall burden).

Sales are seen going up by 16.6% to Rs 9,450 crore from Rs 8,104.1 crore year-on-year. Operating profit margin is expected to improve at 17.9% in July-September quarter of FY12 as against 17.68% in same quarter the previous year and 17.54% in previous quarter.

Subsidy

* Subsidy break-up among upstream companies still not known

* Q1 saw GAIL bear only 1.6% of the overall burden

* GAIL paid 2.7% of the overall burden in FY11

* At the Q1 rate, GAIL would bear around Rs 335 crore in Q2

* In this scenario PAT could be upwards of Rs 1,150 crore

* At the FY11 rate, GAIL would pay around Rs 570 crore in Q2 

* In this scenario, PAT could be closer to Rs 1,030 crore

* Q2 earnings will hinge on the subsidy payment