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GAIL net profit jumps by 194% to Rs 4,393 crore in H1 of FY22

GAIL registered its highest ever half-yearly turnover and profit in H1 FY 22, clocking a turnover of Rs 38,829 crore as against Rs 25,671 crore in the last fiscal
GAIL net profit jumps by 194% to Rs 4,393 crore in H1 of FY22
GAIL net profit jumps by 194% to Rs 4,393 crore in H1 of FY22

New Delhi: Maharatna gas PSU GAIL (India) Limited on Friday announced its half-yearly financial results (H1) for the current financial year (FY22). During the period, the company has registered its highest-ever half-yearly turnover and profit in H1 FY 22, clocking a turnover of Rs 38,829 crore as against Rs 25,671 crore in the last fiscal, an increase of 51 percent. The Profit before Tax (PBT) increased by 201 percent to Rs 5,736 crore vis-a-vis Rs 1,907 crore in H1 of the previous year. Profit after Tax (PAT) also jumped by 194 percent to Rs. 4,393 crore for the half year as against Rs 1,495 crore in H1 of FY 21.

On the quarterly basis, the turnover of GAIL has increased by 24 percent to Rs 21,477 crore in Q2 FY22 as against Rs 17,352 crore in Q1 FY22. PBT registered a growth of 79 percent and stood at Rs 3,682 crore in Q2 FY22 as against Rs 2,054 crore in Q1 FY22.  PAT increased by 87 percent to Rs 2,863 crore in Q2 FY22 as against Rs 1,530 crore in Q1 FY22.

During the quarter, the physical performance improved across all segments. The natural gas transmission increased to 114.32 MMSCMD in Q2 FY22 as against 107.66 MMSCMD in Q1 FY22, up by 6 percent. The natural gas marketing also increased to 97.72 MMSCMD during the quarter as against 95.95 MMSCMD in Q1 of FY22, up by 2 percent. Petrochemical production sales was at 221 TMT in the quarter as against 138 TMT in Q1 FY 22, clocking an increase of 60 percent.

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On a consolidated basis, turnover in Q2 FY22 was Rs 21,739 crore in comparison to Rs 17,551 crore in Q1 of FY22, up by 24 percent. The PBT in Q2 FY22 was Rs 3,728 crore vs. Rs 2,540 crore in Q1 FY22, up by 47 percent. The PAT in Q2 FY22 is Rs 2,883 crore vs. Rs 2,138 crore in Q1 FY22, up by 35 percent.

GAIL’s Chairman & Managing Director (CMD) Manoj Jain informed that during the H1 FY22, GAIL has incurred a capex of Rs 3,180 crore mainly on pipelines, equity and petrochemicals etc. He stated that the performance of all segments of the company have improved significantly during the quarter and further added that sustainable future performance is expected.

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