GAIL net profit jumps 67% to Rs 8,836 crore in FY'24

New Delhi: GAIL (India) Limited on Thursday announced its financial results for the financial year 2023-24 (FY'24). According to the company, GAIL has registered 75 percent growth in its profit before tax (PBT) of Rs 11,555 during FY'24 against Rs 6,584 crore in FY'23.

The net profit of the company also goes up by 67 percent to Rs 8,836 crore in FY'24 as against Rs 5,302 crore in FY'23, while revenue from operations stood at Rs 1,30,638 crore in FY'24 as against Rs 1,44,302 crore in FY'23.

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"Quarter on quarter (QoQ) basis, revenue from operations was reported at Rs 32,335 crore in Q4 FY'24 as against Rs 34,254 crore in Q3 FY'24. PBT stood at Rs 2,842 crore in Q4 FY'24 as against Rs 3,694 crore during Q3 FY'24. Net profit was Rs 2,177 crore in Q4 FY'24 as against Rs 2,843 crore in Q3 FY'24," it said.

During the year (FY'24), natural gas transmission volume registered an increase of 12 percent to 120.46 MMSCMD as against 107.28 MMSCMD in FY'23. Gas marketing volume stood at 98.45 MMSCMD in FY24 as against 94.91 MMSCMD in FY'23. LHC sales registered an increase of 7 percent to 998 TMT as against 929 TMT & Polymer sales jumped up by 97 percent to 787 TMT as against 399 TMT in comparison to previous year.

During the quarter (Q4 of FY'24), natural gas transmission volume stood at 123.65 MMSCMD as against 121.54 MMSCMD in Q3 FY24. Gas marketing volume stood at 99.90 MMSCMD as against 98.14 MMSCMD in previous quarter. LHC sales registered an increase of 5 percent to 261 TMT as against 249 TMT and Polymer sales jumped up by 13 percent to 242 TMT as against 215 TMT in comparison to previous quarter.

On consolidated basis, revenue from operations stood at Rs 1,33,500 crore in FY'24 as against Rs 1,45,875 crore during FY'23. PBT in FY'24 stood at Rs 12,595 crore (up by 74 percent) as against Rs 7,256 crore in FY'23. PAT (excluding Non-controlling interest) was Rs 9,899 crore in FY'24 (up by 76 percent) as against Rs 5,616 crore in FY'23. The consolidated revenue from operations on quarterly basis stood at Rs 32,833 crore in Q4 FY'24 as against Rs 34,768 crore in Q3 FY'24. PBT in Q4 FY'24 stood at Rs 3,099 crore as against Rs 4,075 crore in Q3 FY'24. PAT (excluding Non-controlling interest) was Rs 2,469 crore in Q4 FY'24 as against Rs 3,195 crore in Q3 FY'24.

GAIL's Chairman & Managing Director (CMD) Sandeep Kumar Gupta said that the robust performance during FY'24 is primarily driven by better physical performance across all major segments, despite lower prices in petrochemicals and liquid Hydro-Carbons. He also stated that the company has incurred a Capex of Rs 11,426 crore during the FY'24.

He further stated that GAIL’s Board approved laying of C2/C3 liquid pipeline from Vijaipur to Auraiya having estimated Project Cost of Rs 1,792 Crores with a commissioning period of 32 months. The project will augment feedstock availability with additional polymer production at Pata Petrochemical Complex, reduce energy consumption and carbon footprint.

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