GAIL Q2 Results: Reports decline in Profit at Rs 1,537 crore

by Psu Connect
Date: 05-11-22

Profit after Tax (PAT) stood at Rs 4,452 crores as compared to Rs 4,393 crores in the corresponding period of the previous year.

GAIL Q2 Results: Reports decline in Profit at Rs 1,537 crore

New Delhi: New Delhi: Gas Authority of India Limited, (GAIL India Ltd) on November 4, reported a 46 per cent of drop in the second quarter of the current fiscal year. The company's net profit stood at Rs 1,537.07 crore in July-September compared with Rs 2,862.95 crore profit in the same period a year back, according to BSE filling.

It reported a Revenue from Operations of Rs 76,063 crores for the period April – September 2022 as compared to Rs 38,902 crores in the corresponding period of Financial Year 2021-22. Profit before Tax (PBT) for H1 FY23 stood at Rs 5,770 crores as compared to Rs 5,736 crores for the corresponding period in the previous year.

Profit after Tax (PAT) stood at Rs 4,452 crores as compared to Rs 4,393 crores in the corresponding period of the previous year.

Quarter on a Quarter basis, Revenue from Operations reported is Rs 38,491 crores in Q2 FY23 as compared to Rs 37,572 crores in Q1 FY23. PBT stood at Rs 1,876 crores in Q2 FY23 as against Rs 3,894 crores in previous quarter and PAT stood at Rs 1,537 crore as compared to Rs 2,915 crore in the previous quarter.

During the quarter, Natural gas transmission volume stood at 107.71 MMSCMD in Q2 FY23 as against 109.47 MMSCMD in Q1 FY23. Gas marketing volume stood at 92.54 MMSCMD as against 100.84 MMSCMD in previous quarter. LHC sales stood at 231 TMT as against 220 TMT & Polymer sales stood at 108 TMT as against 109 TMT in comparison to previous quarter.

On Consolidated basis, Revenue from operations increased by 2% to Rs 38,729 crores in Q2 FY23 as against Rs 37,942 crores in Q1 FY23. PBT in Q2 FY23 stood at Rs 1,675 crores as against Rs 4,230 crores in Q1 FY23. PAT was Rs 1,315 crores in Q2 FY23 as against Rs 3,253 crores in Q1 FY23.

Shri Sandeep Kumar Gupta, Chairman & Managing Director, GAIL said the company has incurred a Capex of around Rs 3,970 crores during the current half year mainly on Pipelines, Petrochemicals, Equity to JVs, etc. which is 53% of annual target. He further added that GAIL has been declared as successful Resolution Applicant by the Committee of Creditors for acquiring JBF Petrochemical Limited through Corporate Insolvency Resolution Process. With this the company will further expand its presence in southern part of country.