GAIL Q1 revenue, profit numbers go down Y-o-Y

Performance improves from Q4 of previous year due to increased gas marketing, transmission volumes, increased transmission tariff realisation

geetanjali

Geetanjali Minhas | August 1, 2023 | Mumbai


#Energy   #GAIL  
(Photo: Courtesy GAIL India)
(Photo: Courtesy GAIL India)

GAIL (India) Limited has reported revenue from operations of Rs. 32,227 crore in Q1 FY24 as against Rs. 37,572 crore in Q1 FY23. Profit before Tax (PBT) in Q1 FY24 stood at Rs. 1,889 crore as against Rs. 3,894 crore in Q1 FY23. Profit after Tax (PAT) in Q1 FY24 stood at Rs. 1,412 crore as against Rs. 2,915 crore in Q1 FY23.

On Q-on-Q basis, revenue from operations was reported at Rs. 32,227 crore in Q1 FY24 as against Rs. 32,858 crore in Q4 FY23. PBT registered a robust growth of 220% to Rs. 1,889 crore in Q1 FY24 as against Rs. 591 Cr during Q4 FY23. PAT increased by 134% to Rs. 1,412 crore in Q1 FY24 as against Rs. 604 crore in Q4 FY23 mainly on account of increased gas marketing and transmission volumes as well as increased transmission tariff realisation.

During the quarter, natural gas transmission volume registered growth of 7% to 116.33 MMSCMD (million metric standard cubic meters per day) as against 108.23 MMSCMD in Q4 FY23. Gas marketing volume also saw an  increase of 2% to 98.84 MMSCMD as against 96.46 MMSCMD in previous quarter. LHC sales increased by 7% to 247 TMT as against 230 TMT. Polymer sales increased by 37% to 162 TMT as against 118 TMT in comparison to the previous quarter.

On a consolidated basis, revenue from operations stood at Rs. 32,849 crore in Q1 FY24 as against Rs. 33,264 crore during Q4 FY23. PBT in Q1 FY24 stood at Rs. 2,283 crore as against Rs. 689 crore in Q4 FY23. PAT (excluding non-controlling interest) stood at Rs. 1,792 crore in Q1 FY24 as against Rs. 634 crore in Q4 FY23.

Sandeep Kumar Gupta, Chairman & Managing Director, GAIL, said that the company has incurred a capex of about Rs. 2,391 crore during the current quarter, mainly on pipelines, petrochemicals, equity to JVs, etc., which is about 31% of annual target of Rs. 7,750 crore. He also said that during the quarter, the company has acquired 100% stake in erstwhile JBF Petrochemicals Limited, now GAIL Mangalore Petrochemicals Limited, by infusing Rs. 2,101 crore through corporate insolvency resolution process (CIRP).

Gupta stated that GAIL has been authorized to build the Gurdaspur-Jammu natural gas pipeline having length of 160 km at a capex of Rs. 522 crore.

Comments

 

Other News

ONOE: Anti-federalism or pro-reform?

The government`s move to implement ‘One Nation, One Election’ (ONOE) has ignited widespread debate. On one hand, it offers tangible benefits, such as removing the possibility of a governance paralysis and reducing election costs. On the other hand, the opposition and sections of civil society s

PM Surya Ghar: Muft Bijli Yojana completes first year

On February 13, 2025, the PM Surya Ghar: Muft Bijli Yojana (PMSGMBY) will mark its first anniversary, celebrating a year of empowering households with affordable solar energy and accelerating India’s transition to a sustainable future. Launched by prime minister Narendra Modi on Febru

How to leverage AI to solve urgent global issues

The world seems to be hurling towards World War III in all the possible scenarios: hot war, cold war, and proxy war. The battleground seems to have expanded beyond physical to digital or virtual/mixed reality with technology like drones. Moreover, the line between civilian and military targets seems to hav

Budget: Progress towards SDGs and areas for improvement

The Union Budget 2025-26 outlines India`s vision for economic and social growth while also reflecting the country`s commitment to sustainable development. As India moves closer to the 2030 deadline for the United Nations’ Sustainable Development Goals (SDGs), this budget presents a balanced approach

Repo rate cut by 25 basis points to 6.25%

The Reserve Bank of India has, for the first time in five years, reduced the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.25% with immediate effect. Consequently, the standing deposit facility (SDF) rate will stand adjusted to 6.00% and the marginal

Amitav Ghosh’s new work: Connections between the word and the world

Wild Fictions: Essays By Amitav Ghosh HarperCollins, 496 pages, Rs 799.00 Amitav Ghosh, one of a handful of Ind

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now



Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter