GAIL net profit jumps 42% to Rs 6,660 crore in Q3

GAIL posted 42 percent increase in its net profit of Rs 6,660 crores in Q3 of FY'24 as compared to Rs 4,698 crores in the corresponding period of the previous year
GAIL net profit jumps 42% to Rs 6,660 crore in Q3
GAIL net profit jumps 42% to Rs 6,660 crore in Q3

New Delhi: GAIL (India) Ltd reported revenue from operations of Rs 98,304 crores for up to Q3 FY'24 as compared to Rs 1,11,443 crores in the corresponding period of the financial year 2022-23. Profit before Tax (PBT) for up to Q3 FY'24 stood at Rs 8,713 crores, up by 45 percent as compared to Rs 5,993 crores for the corresponding period in the previous year, mainly on account of higher gas trading margin, increase in transmission volume and increase in transmission tariff. The profit after tax (PAT) up by 42 percent to Rs 6,660 crores as compared to Rs 4,698 crores in the corresponding period of the previous year.

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Quarter on quarter basis, revenue from operations is reported at Rs 34,254 crores in Q3 FY'24 up by 8 percent as compared to Rs 31,823 crores in Q2 FY'24. PBT registered an increase of 18 percent to Rs 3,694 crores in Q3 FY'24 as against Rs 3,130 crores in the previous quarter and PAT increase by 18 percent to Rs 2,843 crore in Q3 FY'24 as against Rs 2,405 crore in the previous quarter.

GAIL's Chairman & Managing Director (GAIL) Sandeep Kumar Gupta said that during the quarter the physical performance has improved across all major business verticals and petrochemical segment has turned profitable owing to plant efficiency, better capacity utilization & other optimization measures adopted. He further stated that the company has incurred a capex of Rs 6,583 crore during the period from April 2023 to December 2023, mainly on pipelines, petrochemicals, equity to JVs, etc.

During the quarter, average natural gas transmission volume stood at 121.54 MMSCMD as against 120.31 MMSCMD in Q2 FY'24. Gas marketing volume stood at 98.14 MMSCMD as against 96.96 MMSCMD in the previous quarter. LHC sales stood at 249 TMT as against 242 TMT and polymer sales jumped up by 28 percent to 215 TMT as against 168 TMT in comparison to the previous quarter.

On a consolidated basis, revenue from operations stood at Rs 1,00,666 crore for up to Q3 FY'24 as against Rs 1,12,611 crore in the corresponding period of the previous year. PBT for up to Q3 FY'24 up by 45 percent to Rs 9,496 crore as against Rs 6,567 crore for up to Q3 FY'23. PAT (excluding Non-controlling interest) up by 49 percent to Rs 7,431 crore for up to Q3 FY'24 as against Rs 4,982 crore for up to Q3 FY'23.

The consolidated revenue from operations on quarterly basis up by 5 percent to Rs 34,768 crore in Q3 FY'24 as against Rs 33,050 crore in Q2 FY'24, PBT registered a growth of 30 percent to Rs 4,075 crores in Q3 FY'24 as against Rs 3,138 crores in the previous quarter. PAT (excluding Non-controlling interest) increased by 31 percent to Rs 3,195 crore in Q3 FY'24 as against Rs 2,444 crore in the previous quarter.

The company declared an interim dividend of 55 percent for the financial year FY 2023-24 i.e. Rs 5.50 per equity share.

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