Press Release 2024
16-05-2024
GAIL (India) Limited
GAIL reports Annual Revenue of Rs 1,30,638 crore, PBT Rs 11,555 crore (up by 75%) & PAT Rs 8,836 crore (up by 67%) in FY 2024
New Delhi, May 16, 2024: GAIL (India) Limited reported Profit before Tax (PBT) of Rs 11,555 in FY24, up 75 % from Rs 6,584 crore in FY23. Profit after Tax (PAT) in FY24 stood at Rs 8,836 crore as against Rs 5,302 crore in FY23, an increase of 67 %, while Revenue from Operations stood at Rs 1,30,638 crore in FY24 as against Rs 1,44,302 crore in FY23.
Quarter on Quarter basis, Revenue from Operations was reported at Rs 32,335 crore in Q4 FY24 as against Rs 34,254 crore in Q3 FY24. PBT stood at Rs 2,842 crore in Q4 FY24 as against Rs 3,694 crore during Q3 FY24. PAT was Rs 2,177 crore in Q4 FY24 as against Rs 2,843 crore in Q3 FY24.
During the year, Natural Gas transmission volume registered an increase of 12% to 120.46 MMSCMD as against 107.28 MMSCMD in FY23. Gas marketing volume stood at 98.45 MMSCMD in FY24 as against 94.91 MMSCMD in FY23. LHC sales registered an increase of 7% to 998 TMT as against 929 TMT & Polymer sales jumped up by 97% to 787 TMT as against 399 TMT in comparison to previous year.
During the quarter, Natural Gas transmission volume stood at 123.65 MMSCMD in Q4 FY24 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% to 261 TMT as against 249 TMT & Polymer sales jumped up by 13% 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 FY24 as against Rs 1,45,875 crore during FY23. PBT in FY24 stood at Rs 12,595 crore (up by 74%) as against Rs 7,256 crore in FY23. PAT (excluding Non-controlling interest) was Rs 9,899 crore in FY24 (up by 76%) as against Rs 5,616 crore in FY23. The Consolidated Revenue from Operations on quarterly basis stood at Rs 32,833 crore in Q4 FY24 as against Rs 34,768 crore in Q3 FY24. PBT in Q4 FY24 stood at Rs 3,099 crore as against Rs 4,075 crore in Q3 FY24. PAT (excluding Non-controlling interest) was Rs 2,469 crore in Q4 FY24 as against Rs 3,195 crore in Q3 FY24.
Shri Sandeep Kumar Gupta, Chairman & Managing Director, GAIL said that the 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.
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 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.