GAIL PAT jumps 42% to `6,660 cr for nine months of current fiscal

New Delhi: GAIL (India) Ltd reported Standalone revenue from operations of Rs 98,304 crore for April-December FY24 on a basis against Rs 1,11,443 crore in the corresponding period of FY23.

Profit before Tax (PBT) for up to December FY24 stood at Rs 8,713 crore, up by 45 per cent as compared to Rs 5,993 crore 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.

Profit after Tax (PAT) up by 42 per cent to Rs 6,660 crore as compared to Rs 4,698 crore in the corresponding period of the previous year.

For Q3 FY24 revenue from operations is reported at Rs 34,254 crore up by 8 per cent as compared to Rs 31,823 crore in Q2 FY24.

PBT registered an increase of 18 per cent to Rs 3,694 crore in Q3 FY24 as against Rs 3,130 crore in the previous quarter and PAT increased by 18 per cent to Rs 2,843 crore in Q3 FY24 as against Rs 2,405 crore in the previous quarter.

Sandeep Kumar Gupta, C& MD, GAIL (India) Ltd 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, Avg Natural Gas Transmission volume stood at 121.54 MMSCMD as against 120.31 MMSCMD in Q2 FY24. 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 & Polymer sales jumped up by 28 per cent 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 December FY24 as against Rs 1,12,611 crore in the corresponding period of the previous year.

PBT for up to December FY24 up by 45 per cent to Rs 9,496 crore as against Rs 6,567 crore for up to Q3 FY23. PAT (excluding Non-controlling interest) up by 49 per cent to Rs 7,431 crore for up to December FY24 as against Rs 4,982 crore for up to Devember FY23.

The Consolidated revenue from Operations on quarterly basis up by 5 per cent to Rs 34,768 crore in Q3 FY24 as against Rs 33,050 crore in Q2 FY24,

PBT registered a growth of 30 per cent to Rs 4,075 crore in Q3 FY24 as against Rs 3,138 crore in the previous quarter. PAT (excluding Non-controlling interest) increased by 31 per cent to Rs 3,195 crore in Q3 FY24 as against Rs 2,444 crore in the previous quarter.

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

share.