GAIL Reports Q2 FY’24 Revenue of Rs 31,823 crore, Achieving PAT of Rs 2,405 crore

GAIL (India) Limited’s revenue from April to September 2023 was Rs 64,050 crores, down from Rs 76,063 crores in FY 2022-23. H1 FY24 profit before tax was Rs 5,019 crores (vs. Rs 5,770 crores) and profit after tax was Rs 3,817 crores (vs. Rs 4,452 crores).

Q2 FY24 operations generated Rs 31,823 crores, a reduction from Rs 32,227 crores in Q1 FY24. In Q2 FY24, PBT climbed by 66% to Rs 3,130 crores (from Rs 1,889 crores) and PAT increased by 70% to Rs 2,405 crore (from Rs 1,412 crore).

Q2 FY24: Gas transmission at 120.31 MMSCMD, gas marketing at 96.96 MMSCMD, LHC sales at 242 TMT, and polymer sales at 168 TMT. Consolidated H1 FY24 revenue of Rs 65,898 crore, PBT of Rs 5,421 crore, and PAT of Rs 4,236 crore (excluding non-controlling interest).

Consolidated Revenue in Q2 FY24 was Rs 33,049 crore (up from Rs 32,849 crore in Q1 FY24). PBT increased 37% to Rs 3,138 crore (from Rs 2,283 crore), while PAT (excluding non-controlling interest) increased 36% to Rs 2,444 crore (from Rs 1,792 crore).

GAIL’s Chairman & Managing Director, Shri Sandeep Kumar Gupta, highlighted the strong performance in the Gas Transmission segment, expressing confidence in its continued growth. He noted the quarter’s constraints due to reduced realizations in Polymers and LPG, anticipating improvements. The company’s current half-year Capex reached approximately Rs 4,853 crore, primarily allocated to Pipelines, Petrochemicals, and Joint Venture equity.

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