GAIL continues to turn in impressive performance figures

Vol 7, PW 11 (13 Aug 03) News in Brief

GAIL should thank India's insatiable hunger for gas and itsposition as the country's dominant gas marketer for yet another set of impressive performance figures.

In the quarter to June this year, GAIL maintained an uninterrupted supply of gas to customers along the HBJ pipeline for 2,184 hours - up from the target of 2,162.16 hours. Ditto for supply of gas to non-HBJ customers.

As for supply of LPG from the Jamnagar-Loni pipeline, the longest LPG pipeline in India, GAIL supplied gas for 2,184 hours as against the target of 2,020 hours. Production of LPG, propane was 307,000 tonnes while the target was 286,000 tonnes.

Only production of petrochemicals faltered, registering42,000 tonnes, or 83% of the targeted 50,000 tonnes. GAIL attributes this to the failure of a furnace in its gas cracker unit.

GAIL's financial performance figures are equally excellent. Gross margin, net profit to net worth and gross profit to capital employed are 119%, 127% and 134% respectively of targets.