GAIL clocks Revenue of Rs. 32,227 crore, PAT of Rs. 1,412 crore in Q1 FY24
New Delhi, 31st July, 2023:GAIL (India) Limited reported Revenue from Operations of Rs. 32,227 crore in Q1 FY24 as against Rs. 37,572 crore in Q1 FY23. Profit before Tax (PBT) in Q1 FY24 stood at Rs. 1,889 crore as against Rs. 3,894 crore in Q1 FY23. Profit after Tax (PAT) in Q1 FY24 stood at Rs. 1,412 crore as against Rs. 2,915 crore in Q1 FY23
Quarter on Quarter basis, Revenue from Operations was reported at Rs. 32,227 crore in Q1 FY24 as against Rs. 32,858 crore in Q4 FY23. PBT registered a robust growth of 220% to Rs. 1,889 crore in Q1 FY24 as against Rs. 591 crore during Q4 FY23. PAT increased by 134% to Rs. 1,412 crore in Q1 FY24 as against Rs. 604 crore in Q4 FY23 mainly on account of increased Gas Marketing and Transmission volumes & increased Transmission tariff realisation.
During the quarter, Natural gas transmission volume registered a growth of 7% to 116.33 MMSCMD in Q1 FY24 as against 108.23 MMSCMD in Q4 FY23. Gas marketing volume increased by 2% to 98.84 MMSCMD as against 96.46 MMSCMD in previous quarter. LHC sales increased by 7% to 247 TMT as against 230 TMT & Polymer sales also increased by 37% to 162 TMT as against 118 TMT in comparison to previous quarter.
On Consolidated basis, Revenue from Operations stood at Rs. 32,849 crore in Q1 FY24 as against Rs. 33,264 crore during Q4 FY23. PBT in Q1 FY24 stood at Rs. 2,283 crore as against Rs. 689 crore in Q4 FY23. PAT (excluding Non-controlling interest) was Rs. 1,792 crore in Q1 FY24 as against Rs. 634 crore in Q4 FY23.
Shri Sandeep Kumar Gupta, Chairman & Managing Director, GAIL said that the Company has incurred a Capex of about Rs.2,391 crore during the current quarter, mainly on Pipelines, Petrochemicals, Equity to JVs, etc. which is about 31% of annual target of Rs. 7,750 crore. He informed that GAIL has been authorized to build Gurdaspur- Jammu Natural Gas pipeline having length of 160 km with Capex of Rs. 522 crore.
He further stated that during the quarter, the company has acquired 100% stake in erstwhile JBF Petrochemicals Limited, now GAIL Mangalore Petrochemicals Limited, by infusing Rs. 2,101 crores through Corporate Insolvency Resolution Process (CIRP).