GAIL’s Q1 net profit falls 45% to Rs 17.92 billion
OIL & GAS

GAIL’s Q1 net profit falls 45% to Rs 17.92 billion

GAIL, the state-run gas supplier, announced that its consolidated net profit for the first quarter of 2023-24 (FY24) had decreased by 45%, amounting to Rs 17.92 billion, in comparison to Rs 32.50 billion in the same period of the previous year.

The net profit saw a sequential rise of 179%, reaching Rs 6.04 billion. This increase was primarily attributed to higher gas marketing and transmission volumes, as well as an improved transmission tariff realization.

During Q1FY24, the company's consolidated revenue from operations experienced a decline of 13%, dropping to Rs 328.48 billion from Rs 379.42 billion in the year-ago period.

The company stated, "In the June quarter, the operating profit, calculated as earnings before interest, taxes, depreciation, and amortization (Ebitda), increased to Rs 24.32 billion. The Ebitda margin also expanded by 660 basis points year-on-year, reaching 7.5%."

In the latest quarter, the volume of natural gas transmission grew by 7 per cent to 116.33 MMSCMD in Q1, as compared to 108.23 MMSCMD in Q4 FY23.

However, the marketing of natural gas, which constitutes 96 per cent of the company's overall revenue, decreased by 18% to Rs 283.81 billion. Gas marketing volume increased slightly by 2%, reaching 98.84 MMSCMD against 96.46 MMSCMD in the previous quarter. On the other hand, liquid hydrocarbon sales witnessed a growth of 7 per cent, amounting to 247,000 tonnes, as compared to 230,000 tonnes in the previous quarter. Polymer sales also surged by 37 per cent, reaching 162,000 tonnes, as compared to 118,000 tonnes in the previous quarter.

Also read: 
Indian Mineral Production records positive growth in April 2023  
India surpasses China in Coal-based Steel Capacity 


GAIL, the state-run gas supplier, announced that its consolidated net profit for the first quarter of 2023-24 (FY24) had decreased by 45%, amounting to Rs 17.92 billion, in comparison to Rs 32.50 billion in the same period of the previous year. The net profit saw a sequential rise of 179%, reaching Rs 6.04 billion. This increase was primarily attributed to higher gas marketing and transmission volumes, as well as an improved transmission tariff realization. During Q1FY24, the company's consolidated revenue from operations experienced a decline of 13%, dropping to Rs 328.48 billion from Rs 379.42 billion in the year-ago period. The company stated, In the June quarter, the operating profit, calculated as earnings before interest, taxes, depreciation, and amortization (Ebitda), increased to Rs 24.32 billion. The Ebitda margin also expanded by 660 basis points year-on-year, reaching 7.5%. In the latest quarter, the volume of natural gas transmission grew by 7 per cent to 116.33 MMSCMD in Q1, as compared to 108.23 MMSCMD in Q4 FY23. However, the marketing of natural gas, which constitutes 96 per cent of the company's overall revenue, decreased by 18% to Rs 283.81 billion. Gas marketing volume increased slightly by 2%, reaching 98.84 MMSCMD against 96.46 MMSCMD in the previous quarter. On the other hand, liquid hydrocarbon sales witnessed a growth of 7 per cent, amounting to 247,000 tonnes, as compared to 230,000 tonnes in the previous quarter. Polymer sales also surged by 37 per cent, reaching 162,000 tonnes, as compared to 118,000 tonnes in the previous quarter. Also read:  Indian Mineral Production records positive growth in April 2023  India surpasses China in Coal-based Steel Capacity 

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?