Q3FY23 results: Revenue from operations of GAIL at Rs 1,11,443 cr, up by 72 %

New Delhi: State-owned GAIL Ltd on Monday released its unaudited and standalone financial results, said the company in a regulatory filing. GAIL (India) Limited reported revenue from operations of Rs 1,11,443 crore for nine months ended on December 31, 2022, up by 72 percent from Rs 64,678 crore in the corresponding period of Financial Year 2021-22.

Profit before Tax (PBT) for nine months that ended on December 31 stood at Rs 5,993 crore as compared to Rs 10,044 crore during the corresponding period in previous year while Profit after Tax (PAT) stood at Rs 4,698 crore as compared to Rs 7,681 crore in the same period of the last fiscal.

The company's total expenditure has increased from Rs 22,119.01 crore in Q3FY22 to Rs 35,846.61 crore in Q3FY23, resulting in increase of 38.2 percent. The total income for the nine-month period is Rs 7,680.86 in December 2021 as compared to Rs 4,697.99 crore in December 2022.

GAIL to issue 15,750 debentures to raise funds on private placement basis

On q-o-q basis, Revenue from operations was reported at Rs 35,380 crore in Q3 FY23 as compared to Rs 38,491 crore in Q2 FY23. PBT stood at Rs 223 crore while PAT was Rs 246 crore in Q3 FY23 as against Rs 1,876 crore and Rs 1,537 crore respectively in the previous quarter.

Natural gas transmission volume stood at 103.74 MMSCMD in Q3 FY23 as against 107.71 MMSCMD in Q2 FY23. Gas marketing volume stood at 89.89 MMSCMD as against 92.54 MMSCMD in previous quarter. LHC sales stood at 248 TMT as against 231 TMT & Polymer sales stood at 65 TMT as against 108 TMT in comparison to previous quarter.

On consolidated basis, revenue from operations stood at Rs 35,940 crore in Q3 FY23 as against Rs 38,729 crore in Q2 FY23. PBT in Q3 FY23 stood at Rs 662 crore as against Rs 1,675 crore in Q2 FY23. PAT was Rs 414 crore in Q3 FY23 as against Rs 1,315 crore in Q2 FY23 (excluding non-controlling interest).

Sandeep Kumar Gupta, Chairman & Managing Director, GAIL said that the company's revenue from operations has crossed Rs one lakh crore during nine months that ended on  December 31, 2022, which is highest ever in any financial year. He further added that during the quarter, GAIL acquired 26 percent equity stake in "GAIL Bhuwan" Ship, M/s LNG Japonica. Diversifying the Company's business with an entry into Speciality Chemical segment, GAIL Board has approved 50 KTA ISOPROPANOL Unit (IPA) at Usar where PDHPP Plant is already under construction.  The Company has raised sum of Rs 1,575 crore by issuing redeemable non-convertible debentures at a highly competitive rate and incurred Capex of approximately Rs 6,278 crore during the nine months mainly on pipelines, petrochemicals, operational capex etc. which is 79 percent of annual target.

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