GAIL Reports 75% Surge in Profit Before Tax for FY 2023-24
ECONOMY & POLICY

GAIL Reports 75% Surge in Profit Before Tax for FY 2023-24

GAIL (India) Limited reported a 75% increase in its Profit Before Tax (PBT) for FY 2023-24, reaching ₹115.55 billion, up from ₹65.84 billion last year. Chairman and Managing Director Sandeep Kumar Gupta shared this update at the company's 40th Annual General Meeting (AGM).

Profit After Tax (PAT) also rose significantly by 67%, reaching ₹88.36 billion, despite a decrease in revenue from operations, which fell to ₹

1306.38 billion from ₹1443.02 billion in the previous year.

The company is making notable progress in infrastructure, extending its pipeline network by about 3,400 km to complete the National Gas Grid, with the total infrastructure now at 16,271 km.

GAIL is securing future gas supplies through long-term LNG agreements, including deals with Vitol Asia Pte Ltd, ADNOC Gas, and Qatar Energy LNG. It has also installed India's first MW-scale Green Hydrogen electrolyser in Vijaipur, Madhya Pradesh, aiming for a Net Zero target by 2035.

GAIL (India) Limited reported a 75% increase in its Profit Before Tax (PBT) for FY 2023-24, reaching ₹115.55 billion, up from ₹65.84 billion last year. Chairman and Managing Director Sandeep Kumar Gupta shared this update at the company's 40th Annual General Meeting (AGM).Profit After Tax (PAT) also rose significantly by 67%, reaching ₹88.36 billion, despite a decrease in revenue from operations, which fell to ₹1306.38 billion from ₹1443.02 billion in the previous year.The company is making notable progress in infrastructure, extending its pipeline network by about 3,400 km to complete the National Gas Grid, with the total infrastructure now at 16,271 km.GAIL is securing future gas supplies through long-term LNG agreements, including deals with Vitol Asia Pte Ltd, ADNOC Gas, and Qatar Energy LNG. It has also installed India's first MW-scale Green Hydrogen electrolyser in Vijaipur, Madhya Pradesh, aiming for a Net Zero target by 2035.

Next Story
Real Estate

The Only Way is Up!

In 2025, India’s real-estate market will be driven by a confluence of economic, demographic and policy-driven factors. Among these, Boman Irani, President, CREDAI National, counts rapid urbanisation, the rise of the middle class, policy reforms like RERA and GST rationalisation, and the Government’s decision to allow 100 per cent FDI in construction development projects (including townships, housing, built-up infrastructure, and real-estate broking services).In the top metros, especially Bengaluru, followed by Hyderabad and Pune, the key drivers will continue to be job creation a..

Next Story
Building Material

Organisations valuing gender diversity achieve higher profitability

The building materials industry is projected to grow by 8-12 per cent over the next five years. How is Aparna Enterprises positioning itself to leverage this momentum and solidify its market presence?The Indian construction and building materials industry is projected to witness significant expansion, with estimates suggesting an 8-12 per cent compound annual growth rate (CAGR) over the next five years. This growth is fuelled by rapid urbanisation, increased infrastructure investments and sustainability-focused policies. With India's real-estate market expected to reach $ 1 trillion by 2030, t..

Next Story
Real Estate

Dealing with Delays

Delays have beleaguered many a construction project in India, hampering the country from building to its ability and potential, and leading to additional costs incurred by the contractor. The reasons for delayIn India, delays mainly occur owing to obtaining statutory approvals, non-provisioning of right of way, utility diversion and approval of drawings and design. Delays are broadly classified based on responsibility and effect. Excusable delays arise from factors beyond the contractor’s control, such as force majeure events or employer-induced delays. These delays generally entitle th..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?