PAT upto Q3 FY 2022 jumps 158%
New Delhi: GAIL (India) Limited posted 20% increase in Revenue from Operations to Rs. 25,776 crore in Quarter 3 (Q3) Financial Year (FY) 2022 as against Rs. 21,515 crore in Q2 FY 2022. Its Profit before Tax (PBT) increased by 17% in Q3 FY 2022 to Rs. 4,308 crore as against Rs. 3,682 crore in Q2 FY 2022. The Profit after Tax (PAT) increased by 15% to Rs. 3,288 crore in Q3 FY 2022 as against Rs. 2,863 crore in Q2 FY 2022.
Manoj Jain, Chairman and Managing Director, GAIL, informed that this is the highest ever quarterly Revenue from Operations, PBT and PAT of the Company. In fact, during the 9 month period ended on December 31, 2021, GAIL has already surpassed the highest ever PAT achieved in any of the previous financial years. GAIL has incurred a Capex of Rs. 5,034 crore mainly on Pipelines, Petrochemicals, Equity to JVs, etc.
GAIL’s revenue from operations for nine month period ended on December 31, 2021, increased by 57% to Rs. 64,678 crore as compared to Rs. 41,189 crore in corresponding period of previous year. PBT registered a growth of 166% and stood at Rs. 10,044 crore upto Q3 FY 2022 as against Rs. 3,774 crore upto Q3 FY 2021. PAT increased by 158% to Rs. 7,681 crore upto Q3 FY 2022 as against Rs. 2,983 crore upto Q3 FY 2021 mainly on account of improved gas marketing spread, better product prices, better physical performance in Gas Marketing and Transmission segment.
On a consolidated basis, the Revenue from Operations increased by 20% in Q3 FY 2022 to Rs. 26,176 crore vs. Rs. 21,782 crore in Q2 FY 2022. The PBT in Q3 FY 2022 was up by 29% to Rs. 4,820 crore vs. Rs. 3,728 crore in Q2 FY22 and the PAT in Q3 FY 2022 increased by 31% to Rs. 3,781 crore vs. Rs. 2,883 crore in Q2 FY 2022.On 9 month basis, GAIL achieved Consolidated Revenue from Operations, PBT & PAT of Rs. 65,546 crore, Rs. 11,088 crore and Rs. 8,802 crore respectively for the period upto Q3 FY 2022, up by 57%, 146% & 141% respectively against corresponding period of previous year.
Jain stated that GAIL has acquired 26% stake from ILF&S in ONGC Tripura Power Company. The acquisition would be synergetic and enable GAIL to stronghold its presence in North East region of the country. He added that GAIL has commissioned India’s first-of-its-kind pilot project for mixing hydrogen into City Gas Distribution network of AGL at Indore, Madhya Pradesh. “This project marks the stepping stone of India’s journey towards a hydrogen based and carbon-neutral future,” he said.
– global bihari bureau
