GAIL (India) reports 42% jump in PAT to Rs 6,660cr in nine months

GAIL (India) Ltd, a leading company in the Indian energy sector, has reported a significant rise in its financial performance for the nine months ending December 31, 2023. The company has seen a substantial increase in Profit After Tax (PAT), marking a pivotal moment in its financial journey.

The company’s PAT surged by 42% to Rs 6,660 crores, up from Rs 4,698 crores in the corresponding period of the previous year. Similarly, Profit Before Tax (PBT) for the same period stood at Rs 8,713 crores, a robust increase of 45% compared to Rs 5,993 crores in the previous year. This remarkable growth is primarily attributed to higher gas trading margins, an increase in transmission volume, and a rise in transmission tariffs.

On a quarter-on-quarter basis, GAIL (India) Ltd reported an 8% increase in Revenue from Operations in Q3 FY24, amounting to Rs 34,254 crores. The PBT registered an 18% increase to Rs 3,694 crores, and PAT also saw an 18% rise to Rs 2,843 crores in Q3 FY24.

GAIL (India) Ltd’s Remarkable Financial Growth: PAT Soars to Rs 6,660 Crores

Sandeep Kumar Gupta, Chairman & Managing Director of GAIL (India) Limited, highlighted the improved physical performance across major business verticals. He noted that the Petrochemical Segment has become profitable due to plant efficiency, better capacity utilization, and optimization measures. The company invested Rs. 6,583 crore in capital expenditure, focusing on Pipelines, Petrochemicals, and Equity to Joint Ventures.

On a consolidated basis, the Revenue from Operations stood at Rs 1,00,666 crore for up to Q3 FY24. The PBT increased by 45% to Rs 9,496 crore, and the PAT, excluding Non-controlling interest, saw a 49% increase to Rs 7,431 crore. Additionally, GAIL (India) Ltd declared an interim dividend of 55% for the financial year FY 2023-24, equating to Rs 5.50 per equity share.

The financial results of GAIL (India) Ltd reflect the company’s strong position in the Indian energy market. Their strategy focusing on diversification and optimization in the gas and petrochemical sectors is evidently paying off, as seen in their robust financial growth. This performance not only boosts shareholder confidence but also positions GAIL (India) Ltd as a significant player in the evolving energy sector.