Operating margins fell 660 bps to 75.9% during quarter ended March 2019 as other expenses rose 430 bps to 13.1% as a percentage of adjusted net sales while employee benefit expenses increased 40 bps to 3.4%. Gas transmission expenses rose 190 bps to 7.6%.

Operating profit increased 14% to Rs 329.29 crore. Other income decreased 54% to Rs 7.91 crore leading to 10% increase in PBDIT to Rs 337.2 crore. Interest cost rose 389% to Rs 50.48 crore. Depreciation rose 8% to Rs 47.55 crore. As a result PBT was down 5% at Rs 239.17 crore. Considering 160 bps fall in effective rate of taxes to 35.9% GSPL reported a 3% decrease in bottom-line to Rs 153.32 crore.

For FY19 GSPL reported a 41% increase in income from operations to Rs 1877.19 crore compared to corresponding previous year period. Operating margins fell 400 bps to 82.2% leading to 34% increase in operating profit to Rs 1542.59 crore. Other income decreased 19% to Rs 59.36 crore leading to 31% increase in PBDIT to Rs 1601.96 crore. Interest cost rose 519% to Rs 219.2 crore. Depreciation was up 3% to Rs 179.98 crore. As a result PBT was up 19% at Rs 1202.78 crore. Considering 10 bps rise in effective rate of taxes to 33.9% GSPL reported a 19% increase in bottom line to Rs 794.67 crore.

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