Press Release 2023
GAIL reports highest ever Annual Revenue of Rs 1,44,302 crore (up 57%) for FY23
New Delhi, May 18, 2023:GAIL (India) Ltd reported Revenue from Operations of Rs 1,44,302 crores in FY23 as against Rs 91,646 crores in FY22. Profit before Tax (PBT) in FY23 stood at Rs 6,584 crores as against Rs 13,590 crores in FY22. Profit after Tax (PAT) in FY23 stood at Rs 5,302 crores as against Rs 10,364 crores in FY22.
Quarter on Quarter basis, Revenue from Operations was reported at Rs 32,858 crores in Q4 FY23 as against Rs 35,380 crores in Q3 FY23. PBT registered a growth of 165% to Rs 591 crore in Q4 FY23 as against Rs223 crore during Q3 FY23. PAT increased by 146% to Rs604 crore in Q4 FY23 as against Rs246 crore in Q3 FY23.
During the quarter, Natural gas transmission volume stood at 108.23 MMSCMD in Q4 FY23 as against 103.74 MMSCMD in Q3 FY23. Gas marketing volume stood at 96.46 MMSCMD as against 89.89 MMSCMD in previous quarter. LHC sales stood at 230 TMT as against 248 TMT & Polymer sales stood at 118 TMT as against 65 TMT in comparison to previous quarter.
On Consolidated basis, Revenue from Operations stood at Rs 1,45,875 crore in FY23 as against Rs 92,874 crore during FY22. PBT in FY23 stood at Rs 7,256 crore as against Rs 15,464 crore in FY22. PAT (excluding Non-controlling interest) was Rs 5,616 crore in FY23 as against Rs 12,256 crore in FY22. The Revenue from Operations on quarterly basis stood at Rs 33,264 crore in Q4 FY23 as against Rs 35,940 crore in Q3 FY23. PBT in Q4 FY23 stood at Rs 689 crore as against Rs 662 crore in Q3 FY23. PAT (excluding Non-controlling interest) was Rs 634 crore in Q4 FY23 as against Rs414 crore in Q3 FY23.
Shri Sandeep Kumar Gupta, Chairman & Managing Director, GAIL said that, the Company has incurred its highest ever Capex of about Rs 9,100 crore during FY 2022-23 mainly on Pipelines, Petrochemicals, Equity to JVs, etc. which is 15% higher than annual target of Rs 7,918 crore. He stated that company has successfully implemented Unified Tariff w.e.f. 1st April 2023 which will help India to achieve the One Nation One Grid One tariff model and also boost the gas consumption in distant areas.