GAIL reports highest ever Annual Revenue of ₹1,44,302 crore (up 57%) for FY23

by Shrutee K

Mumbai, 19^th May, 2023: GAIL (India) Ltd reported Revenue from Operations of ₹1,44,302 crores in FY23 as against ₹91,646 crores in FY22. Profit before Tax (PBT) in FY23 stood at ₹6,584 crores as against ₹13,590 crores in FY22. Profit after Tax (PAT) in FY23 stood at ₹5,302 crores as against ₹10,364 crores in FY22.

Quarter on Quarter basis, Revenue from Operations was reported at ₹32,858 crores in Q4 FY23 as against ₹35,380 crores in Q3 FY23. PBT registered a growth of 165% to ₹591 crore in Q4 FY23 as against ₹223 crore during Q3 FY23. PAT increased by 146% to ₹604 crore in Q4 FY23 as against ₹246 crore in Q3 FY23.

During the quarter, Natural gas transmission volume stood at 108.23 MMSCMD in Q4 FY23 as against 103.74 MMSCMD in Q3 FY23. Gas marketing volume stood at 96.46 MMSCMD as against 89.89 MMSCMD in previous quarter. LHC sales stood at 230 TMT as against 248 TMT & Polymer sales stood at 118 TMT as against 65 TMT in comparison to previous quarter.

On Consolidated basis, Revenue from Operations stood at ₹1,45,875 crore in FY23 as against ₹92,874 crore during FY22. PBT in FY23 stood at ₹7,256 crore as against ₹15,464 crore in FY22. PAT (excluding Non-controlling interest) was ₹5,616 crore in FY23 as against ₹12,256 crore in FY22. The Revenue from Operations on quarterly basis stood at ₹33,264 crore in Q4 FY23 as against ₹35,940 crore in Q3 FY23. PBT in Q4 FY23 stood at ₹689 crore as against ₹662 crore in Q3 FY23. PAT (excluding Non-controlling interest) was ₹634 crore in Q4 FY23 as against ₹414 crore in Q3 FY23.

Shri Sandeep Kumar Gupta, Chairman & Managing Director, GAIL said that, the Company has incurred its highest ever Capex of ~ ₹9,100 crore during FY 2022-23 mainly on Pipelines, Petrochemicals, Equity to JVs, etc. which is 15% higher than annual target of ₹7,918 crore. He stated that company has successfully implemented Unified Tariff w.e.f. 1^st April 2023 which will help India to achieve the One Nation One Grid One tariff model and also boost the gas consumption in distant areas.