GAIL PAYS RS
256.28 CRORE AS DIVIDEND TO THE GOVERNMENT OF INDIA
GAIL made dividend
payment of Rs 256.28 crore to the Government of India for the
year 2001-2002 as against Rs.227.80 crore for the year 2000-2001.
This year’s dividend is at 45 percent on the Government equity
of Rs 569.50 crore. For the previous year 2000-2001, GAIL had
paid a dividend at 40 percent.
A Cheque for Rs 256.28
crore was handed over here today to the Minister of Petroleum
and Natural Gas, Shri Ram Naik by Shri Proshanto Banerjee, Chairman
and Managing Director of GAIL. Dividend payments to all other
shareholders are also being made simultaneously.
GAIL has ended the
year with record highs in sales as well as profits. Sales (including
internal consumption and stock adjustment) during the year were
Rs 10,553 crore against Rs 10,087 crore in 2000-01. Earning Before
Interest, Depreciation and Tax (EBIDTA) increased to Rs 2,622
crore from Rs 2,350 crore and Profit After Tax increased to Rs
1,186 crore from Rs 1,126 crore in the previous year. Internal
generation of resources during the year was higher at Rs 1,779
crore against Rs 1,727 crore in the previous year.