GAIL clocks revenue of Rs 31,823 crore, net profit of Rs 2,405 crore in Q2 of FY’24

New Delhi: GAIL (India) Limited reported revenue from operations of Rs 64,050 crores for the period April – September 2023 as compared to Rs 76,063 crores in corresponding period of financial year 2022-23. The profit before tax (PBT) for H1 FY24 stood at Rs 5,019 crores as compared to Rs 5,770 crores for the corresponding period in previous year. The profit after tax (PAT) stood at Rs 3,817 crores as compared to Rs 4,452 crores in corresponding period of previous year.

Quarter on Quarter basis, revenue from operations reported is Rs 31,823 crores in Q2 FY24 as compared to Rs 32,227 crores in Q1 FY'24. PBT registered a jump of 66 percent to Rs 3,130 crores in Q2 FY'24 as against Rs 1,889 crores in previous quarter and net profit followed the way with an increase of 70 percent to Rs 2,405 crore in Q2 FY'24 as against Rs 1,412 crore in previous quarter.

During the quarter, natural gas transmission volume stood at 120.31 MMSCMD in Q2 FY24 as against 116.33 MMSCMD in Q1 FY'24. Gas marketing volume stood at 96.96 MMSCMD as against 98.84 MMSCMD in previous quarter. LHC sales stood at 242 TMT as against 247 TMT and Polymer sales stood at 168 TMT as against 162 TMT in comparison to previous quarter.

On Consolidated basis, revenue from operations stood at Rs 65,898 crore in H1 FY24 as against Rs 76,671 crore during H1 FY23. PBT in H1 FY24 stood at Rs 5,421 crore as against Rs 5,905 crore in H1 FY'23. PAT (excluding Non-controlling interest) was Rs 4,236 crore in H1 FY'24 as against Rs 4,568 crore in H1 FY23.

The consolidated revenue from operations on quarterly basis stood at Rs 33,049 crore in Q2 FY'24 as against Rs 32,849 crore in Q1 FY'24, PBT registered a growth of 37 percent to Rs 3,138 crores in Q2 FY'24 as against Rs 2,283 crores in previous quarter. The net profit (excluding Non-controlling interest) increased by 36 percent to Rs 2,444 crore in Q2 FY'24 as against Rs 1,792 crore in previous quarter.

GAIL's Chairman & Managing Director (CMD) Sandeep Kumar Gupta said that during the quarter the company has performed well specially on the strength in gas transmission segment which will continue to perform better. He said performance during the quarter was constrained due to lower realisation in polymers and LPG which are expected to be better going forward. He further stated that the company has incurred a Capex of around Rs 4,853 crore during the current half year, mainly on pipelines, petrochemicals, equity to JVs, etc.

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