GAIL’s PAT jumps by 20% to Rs 1,487 crore in Q3 FY 21

New Delhi: GAIL (India) Limited has recorded a 13 percent increase in turnover to Rs 15,386 crore vis-a-vis Rs 13,611 crore in Q2 FY 21. Profit before Tax (PBT) increased by 20 percent to Rs. 1,868 crore as against Rs. 1,550 crore in Q2 FY21. The Profit after Tax (PAT) increased by 20 percent to Rs. 1,487 crore in Q3 vis a vis Rs. 1,240 crore in Q2 FY21.

Both physical, as well as the financial performance of the company, improved further across all major segments in Q3 as compared to Q2 FY21. The Physical Performance improved by 4 percent in Natural Gas Transmission, 8 percent in gas marketing, 3 percent in LPG transmission, 3 percent in petrochemical sales, and 8 percent in liquid hydrocarbon sales.

GAIL's petrochemical performance improved further in Q3, and the plant is operating at more than 100 percent capacity utilization. On account of better physical performance and price realisation, the profitability of the segment has increased to Rs 423 crore in Q3 as against Rs 170 crore during Q2 FY21.
For the nine-month ending December 31, 2020, GAIL recorded a turnover of Rs 41,057 crore as against Rs 54,021 crore up-to Q3 FY 20. PAT up-to Q3 FY21 stood at Rs 2,983 crore as against Rs 3,602 crore up-to Q3 FY 20.

ALSO READ: Q2FY21: GAIL registered PAT of Rs 1,239 crore in second quarter of FY21

During the quarter, the group's consolidated turnover stood at Rs. 15,606 crore as against Rs. 13,774 crore in Q2 FY21 while the group's PAT stood at Rs. 1,897 crore as against Rs. 1,068 crore in Q2 FY21.

GAIL's Chairman & Managing Director (CMD) Manoj Jain said that the Prime Minister has dedicated two pipeline projects to the nation, i.e,  Kochi- Mangaluru Section (450 km) of the KKMBPL on January 5 and Dobhi – Durgapur section (348 km) of JHBDPL on February 7. The commissioning of pipelines will not only increase customers but also lead to growth in gas marketing and transmission. He further stated that GAIL is trying to accelerate the progress in its ongoing projects.

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