Sunday, June 26, 2022

GAIL posts highest-ever yearly PBT, PAT, revenue in FY22 on higher gas margins

GAIL has posted a 41% rise in PAT in Q4 of FY22 at Rs 2,683 crore, up from Rs 1,908 crore in Q4 FY21 on account of improved gas marketing spread, better product prices

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  • The Profit after Tax (PAT) for the entire financial year 2021-22 has increased by 112 percent to Rs 10,364 crore as against Rs 4,890 crore in FY21
  • GAIL recorded 62 percent increase in Revenue from Operations at Rs 91,646 crore in FY22 as against Rs 56,738 crore in FY21

New Delhi: GAIL (India) Limited has posted a 41 percent rise in Profit After Tax (PAT) in Q4 of FY22 at Rs 2,683 crore, up from Rs 1,908 crore in Q4 FY21 mainly on account of improved gas marketing spread and better product prices. The Profit after Tax (PAT) for the entire financial year 2021-22 has increased by 112 percent to Rs 10,364 crore as against Rs 4,890 crore in FY21 mainly on account of increased gas marketing and transmission volume, better gas marketing spread and higher product prices.

GAIL recorded 62 percent increase in Revenue from Operations at Rs 91,646 crore in FY22 as against Rs 56,738 crore in FY21. Profit before Tax (PBT) increased by 113 percent to Rs 13,590 in FY22 crore as against Rs 6,386 crore in FY21.

Revenue from Operations for the quarter ended on March 31 increased by 73 percent to Rs 26,968 crore as compared to Rs 15,549 crore in the corresponding period of the previous year. PBT registered a growth of 36 percent to Rs 3,546 crore in Q4 FY22 as against Rs 2,612 crore during Q4 FY21.

On consolidated basis, GAIL Group achieved Annual Revenue from Operations, PBT & PAT of Rs 92,874 crore, Rs 15,464 crore and Rs 12,256 crore in FY22, up by 62 percent, 100 percent and 100 percent, respectively against FY21. The quarterly Revenue from Operations, PBT and PAT achieved in Q4 FY22 is Rs 27,328 crore, Rs 4,375 crore and Rs 3,454 crore, up by 73 percent, 36 percent and 39 percent, respectively, against Q4FY21.

Highest yearly financial results on all 3 parameters: GAIL CMD

GAIL CMD Manoj Jain said that this is the highest yearly financial results on all the three parameters ever reported by the company in its history. GAIL has incurred a capex of Rs 7,738 crore mainly on pipelines, petrochemicals, equity to JVs, etc. GAIL’s spending in CSR during the year is 3 percent against the mandate spend of 2 percent. GAIL has paid dividend for Rs 3,996 crore (@ Rs 9/share). In addition, the GAIL Board has recommended Final Dividend @ Rs 1/share subject to the approval of shareholders, which makes the total dividend for the FY 2021-22 to Rs 4,440 crore, which is the highest-ever by GAIL. Besides this, buyback of shares amounting to Rs 1,083 crore has already been approved.

Jain said that GAIL has awarded a contract to set-up India’s largest electrolyser to produce Hydrogen. He further added that the PSU is also tying up new gas sources to meet the emerging gas demand in the domestic market. The company has also embarked upon alternate energies like green hydrogen, renewables and bio-fuels projects which are of national importance and would likely provide a transition to the future, said the CMD.

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