GAIL Achieves Record Revenue of Rs 1,30,638 Crore in FY 2024, PBT Surges by 75%
GAIL reported revenue from operations of Rs 32,335 crore in Q4 FY24, down from Rs 34,254 crore in Q3 FY24. PBT for Q4 FY24 stood at Rs 2,842 crore, while PAT was Rs 2,177 crore
BNH BUREAU
New Delhi- GAIL (India) Limited has announced stellar financial results for the fiscal year 2024, reporting a remarkable surge in revenue and profitability. The company's profit before tax (PBT) witnessed an impressive growth of 75%, reaching Rs 11,555 crore, compared to Rs 6,584 crore in FY23. Additionally, the profit after tax (PAT) soared by 67% to Rs 8,836 crore, up from Rs 5,302 crore in the previous fiscal year. GAIL's revenue from operations in FY24 stood at Rs 1,30,638 crore, slightly down from Rs 1,44,302 crore in FY23.
On a quarterly basis, GAIL reported revenue from operations of Rs 32,335 crore in Q4 FY24, down from Rs 34,254 crore in Q3 FY24. PBT for Q4 FY24 stood at Rs 2,842 crore, while PAT was Rs 2,177 crore.
During the fiscal year, GAIL witnessed significant growth across various segments. Natural gas transmission volume increased by 12% to 120.46 MMSCMD, while gas marketing volume stood at 98.45 MMSCMD. Additionally, LHC (Liquid Hydro-Carbons) sales rose by 7% to 998 TMT, and polymer sales surged by an impressive 97% to 787 TMT compared to the previous year.
In the quarter, natural gas transmission volume reached 123.65 MMSCMD in Q4 FY24, and gas marketing volume stood at 99.90 MMSCMD. LHC sales increased by 5% to 261 TMT, and polymer sales jumped by 13% to 242 TMT compared to the previous quarter.
On a consolidated basis, GAIL reported revenue from operations of Rs 1,33,500 crore in FY24, with a PBT of Rs 12,595 crore and PAT (excluding non-controlling interest) of Rs 9,899 crore. In Q4 FY24, consolidated revenue stood at Rs 32,833 crore, with a PBT of Rs 3,099 crore and PAT (excluding non-controlling interest) of Rs 2,469 crore.
Sandeep Kumar Gupta, Chairman & Managing Director of GAIL, attributed the robust performance to better physical performance across all major segments, despite lower prices in petrochemicals and liquid hydrocarbons. He also announced the company's investment of Rs 11,426 crore in capital expenditure during FY24.
Furthermore, GAIL's board approved the laying of a C2/C3 liquid pipeline from Vijaipur to Auraiya, with an estimated project cost of Rs 1,792 crore and a commissioning period of 32 months. This strategic initiative aims to enhance feedstock availability, reduce energy consumption, and minimize the carbon footprint, while boosting polymer production at the Pata Petrochemical Complex.
