+
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
Infrastructure Urban

Hindmetal Pioneers EM Tech in Mineral Exploration

Hindmetal Exploration Services (HESPL), a wholly owned subsidiary of Hindustan Zinc, has become the first company in India to deploy advanced Electromagnetic (EM) technologies for mineral exploration. The initiative marks a major leap in the nation’s ability to identify hidden mineral resources with unprecedented precision.The breakthrough involves two cutting-edge tools: borehole EM, which detects and maps conductive ore bodies such as sulfide deposits in high detail, and SQUID surface sensors, which capture even the weakest electromagnetic signals—ideal for spotting low-conductivity or d..

Next Story
Infrastructure Urban

Autodesk Launches Local Data Storage for India

Autodesk has announced the launch of localized data storage in India, enabling businesses and public sector organizations to store and manage project data within the country. This expansion, part of Autodesk’s global regional offerings, supports regulated sectors such as government, infrastructure, and utilities by meeting compliance requirements while ensuring enterprise-grade security, privacy, and data recoverability.The move comes as Autodesk’s 2025 State of Design & Make report reveals that while digital transformation drives significant ROI in the architecture, engineering, const..

Next Story
Infrastructure Urban

Rosatom Opens Pilot Uranium Facility at Tanzania’s Mkuju River Project

Mantra Tanzania, a subsidiary of Uranium One Group (part of Rosatom), has commissioned a pilot uranium processing facility at the Mkuju River project in southern Tanzania. The inauguration, attended by Her Excellency Samia Suluhu Hassan, President of the United Republic of Tanzania, alongside senior government officials, community leaders, and Rosatom representatives, marks a major step forward in Russia–Tanzania nuclear energy cooperation.Alexey Likhachev, Director General of Rosatom, said: “Rosatom offers its cutting-edge uranium processing technologies to unlock Tanzania’s geological ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?