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State-run GAIL India on Monday reported a multi-fold jump in its consolidated net profit at ₹3,193 crore in the October-December quarter in FY24 aided better performance across business verticals including petrochemicals.
The country’s largest gas utility’s net profit on a sequential basis was also higher by 31 per cent.
On a consolidated basis, GAIL’s revenue from operations stood at ₹1,00,666 crore for Q3 FY24 against ₹1,12,611 crore in the corresponding period of the previous year.
GAIL CMD Sandeep Kumar Gupta said that during the quarter the physical performance has improved across all major business verticals and the petrochemicals segment has turned profitable owing to plant efficiency, better capacity utilization and other optimization measures.
The company incurred a capex of ₹6,583 crore during April 2023 to December 2023, mainly on pipelines, petrochemicals, equity to JVs, etc, he added.
During the quarter, the average natural gas transmission volume stood at 121.54 million standard cubic meters per day (MSCMD) as against 120.31 MSCMD in Q2 FY24. Gas marketing volume stood at 98.14 MSCMD as against 96.96 MMSCMD in the previous quarter.
Liquid hydrocarbons (LHC) sales stood at 249 thousand tonnes (TT) as against 242 TT. Polymer sales jumped up by 28 per cent to 215 TT in Q3 FY24 as against 168 TT in comparison to the previous quarter.
The company also declared an interim dividend of 55 per cent for the financial year FY24, which is Rs 5.50 per equity share.
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