GAIL reports annual revenue of Rs.1,30,638 crore

FY 24 PBT up by 75%, PAT rises 67%

geetanjali

Geetanjali Minhas | May 16, 2024 | Mumbai


#PSU   #GAIL   #Energy  
(Image courtesy: gailonline.com)
(Image courtesy: gailonline.com)

GAIL (INDIA) Limited has reported 75% increase in Profit before Tax (PBT) of Rs.11,555 crore in FY24,  as against Rs 6,584 Cr in FY23. Profit after Tax (PAT) in FY24 stands at Rs. 8,836 Cr as against Rs.5,302 Cr in FY23, a 67 % increase.

However, revenue from operations registered a fall with Rs. 1,30,638 Cr  recorded in FY24 as against Rs. 1,44,302 Cr in FY23.

Further, on a quarter-on-quarter basis, there is a fall in revenue from operations registered at Rs 32,335 Cr in Q4 of FY24 against Rs. 34,254 Cr in Q3 of FY24. PBT too dropped to Rs 2,842 Cr in Q4 of FY24 as against Rs 3,694 Cr during Q3 of FY24 and there is drop in PAT at  Rs 2,177 Cr in Q4 of FY24 as against Rs 2,843 crore in Q3 of  FY24.

Natural Gas Transmission volume has registered a 12% increase to 120.46 MMSCMD as against 107.28 MMSCMD in FY23. Gas marketing volume is reported at   98.45 MMSCMD in FY24 as against 94.91 MMSCMD in FY23. There is an increase of 7% in LHC sales to 998 TMT as against 929 TMT and Polymer sales also jumped up by 97% to 787 TMT as against 399 TMT in contrast to previous year.

Quarter wise, Natural Gas Transmission volume increased to 123.65 MMSCMD in Q4 of  FY24 as against 121.54 MMSCMD in Q3 of  FY24. Gas marketing volume is registered at 99.90 MMSCMD as against 98.14 MMSCMD in the previous quarter. LHC sales registered an increase of 5% to 261 TMT as against 249 TMT and Polymer sales jumped up by 13% to 242 TMT as against 215 TMT in contrast to previous quarter.

There is a fall in consolidated Revenue from Operations reported at Rs. 1,33,500 Cr in FY24 as against Rs. 1,45,875 Cr  during FY23.

PBT in FY24 increased by 74% to Rs 12,595 Cr as against Rs 7,256 Cr in FY23 and PAT (excluding non-controlling interest) has increased by 76% in FY24 to Rs 9,899 Cr as against Rs. 5,616 Cr in FY23.
On quarterly basis, Consolidated Revenue from Operations dropped to Rs.32,833 Cr in Q4 of FY24 as against Rs. 34,768 crore in Q3 of FY24. Similarly PBT in Q4 of FY24 also dropped to Rs 3,099 Cr as against Rs. 4,075 Cr in Q3 of FY of 24. PAT (excluding non-controlling interest) is reported at Rs 2,469 Cr in Q4 of FY24 as against Rs 3,195 Cr in Q3 FY of 24.

Speaking on the release of figures, Sandeep Kumar Gupta, chairman & managing director, GAIL, said that robust performance during FY 2024 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 FY24.

Gupta also added that GAIL’s Board has approved the laying of C2/C3 liquid pipeline from Vijaipur to Auraiya with an estimated project cost of Rs. 1,792 Cr with 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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