Press Release 2023
GAIL hits highest ever Revenue in 9 Months FY’23
Revenue from Operations at Rs 1,11,443 crore, up 72 % from corresponding period last year
New Delhi, 30th January, 2023: GAIL (India) Limited reported Revenue from Operations of Rs 1,11,443 crore for nine months ended 31st December, 2022, up 72 % from Rs 64,678 crore in the corresponding period of Financial Year 2021-22. Profit before Tax (PBT) for nine months ended 31st December, 2022 stood at Rs 5,993 crore as compared to Rs 10,044 crore during the corresponding period in previous year while Profit after Tax (PAT) stood at Rs 4,698 crore as compared to Rs 7,681 crore in the same period of the last fiscal.
Quarter on Quarter basis, Revenue from Operations was reported at Rs 35,380 crore in Q3 FY23 as compared to Rs 38,491 crore in Q2 FY23. PBT stood at Rs 223 crore while PAT was Rs 246 crore in Q3 FY23 as against Rs 1,876 crore and Rs 1,537 crore respectively in the previous quarter.
Natural gas transmission volume stood at 103.74 MMSCMD in Q3 FY23 as against 107.71 MMSCMD in Q2 FY23. Gas marketing volume stood at 89.89 MMSCMD as against 92.54 MMSCMD in previous quarter. LHC sales stood at 248 TMT as against 231 TMT & Polymer sales stood at 65 TMT as against 108 TMT in comparison to previous quarter.
On Consolidated basis, Revenue from Operations stood at Rs 35,940 crore in Q3 FY23 as against Rs 38,729 crore in Q2 FY23. PBT in Q3 FY23 stood at Rs 662 crore as against Rs 1,675 crore in Q2 FY23. PAT was Rs 414 crore in Q3 FY23 as against Rs 1,315 crore in Q2 FY23 (excluding Non-controlling interest).
Shri Sandeep Kumar Gupta, Chairman & Managing Director, GAIL said the Company’s Revenue from Operations has crossed Rs 1 Lac crore during nine months ended 31st December, 2022, which is highest ever in any financial year. He further added that during the quarter, GAIL acquired 26% Equity stake in “GAIL Bhuwan” Ship, M/s LNG Japonica. Diversifying the Company’s business with an entry into Speciality Chemical segment, GAIL Board has approved 50 KTA ISOPROPANOL Unit (IPA) at Usar where PDHPP Plant is already under construction. The Company has raised sum of Rs 1,575 crore by issuing redeemable non-convertible debentures at a highly competitive rate and incurred Capex of approx. Rs 6,278 crore during the nine months mainly on Pipelines, Petrochemicals, Operational capex etc. which is 79% of annual target.