State-owned GAIL is planning a major borrowing programme to raise Rs 20,000 crore in the next few years to fund expansion plans.
The company’s director (finance) RK Goel said the company would go for a Rs 500-crore bond issue this year with the option to raise an extra Rs 250 crore. He said the company may also issue foreign currency bonds to raise $150 million this fiscal.
The company which runs most of the gas pipeline network of the country, has reported a 12% growth in net profit for the financial year 2009-10 on the back of a spectacular growth in natural gas and LPG transmission business. Net sales for the fiscal year rose 5% to Rs 24,996 crore from the previous year. The consolidated net profit of the company with presence in power, petrochemicals, gas trading and in exploration and production of hydrocarbons, rose 17.7% to Rs 3,328 crore in the fiscal, the company said.
In the fourth quarter ended March 31, 2010, net profit soared 45% from the same quarter a year ago to Rs 911 crore on a turnover of Rs 6,522 crore as LPG transmission grew by a fourth and petrochemicals sales jumped by nearly a fifth from the previous quarter.
In the fourth quarter of 2009-10, revenue from LPG transmission rose 23% to Rs 122 crore, while net sales from petrochemicals business rose 17% to Rs 822 crore. Income from natural gas transmission jumped 14% to Rs 740 crore.
Godrej Properties Q4 net profit up three fold
Godrej Properties on Monday said its consolidated net profit jumped three-fold to Rs 57.49 crore in the fourth quarter ended March 2010, compared to the same period in the last fiscal. Total income from operations rose to Rs 170.95 crore during the January-March quarter, from Rs 79.95 crore in the same period in FY’09, Godrej Properties said in a filing to the BSE. Its board of directors has recommended a dividend of Rs 4 per share on the face value of Rs 10 each to the shareholders. For the year ended March 2010, net profit of the company rose to Rs 122.81 crore, up 64.44% over the same period a year ago.
