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GAIL (India) Limited Reports Remarkable Financial Performance in FY 2024

New Delhi, 16th May, 2024: GAIL (India) Limited, one of the leading entities in the energy sector, showcased a stellar financial performance for the fiscal year 2024. The company reported a staggering Annual Revenue of Rs 1,30,638 crore, displaying resilience amidst market challenges. Profit before Tax (PBT) surged to Rs 11,555 crore, marking a remarkable 75% increase from the previous fiscal year, while Profit after Tax (PAT) soared to Rs 8,836 crore, reflecting a commendable 67% rise.

Quarter on Quarter, GAIL exhibited consistent growth albeit minor fluctuations. Revenue from Operations in Q4 FY24 amounted to Rs 32,335 crore, with PBT and PAT standing at Rs 2,842 crore and Rs 2,177 crore respectively. Despite the economic landscape’s uncertainties, GAIL maintained its upward trajectory.

The year also witnessed significant milestones in operational volumes. Natural Gas transmission volume increased by 12% to 120.46 MMSCMD, showcasing GAIL’s robust infrastructure. Gas marketing volume and sales of Liquid Hydro-Carbons (LHC) and Polymers witnessed notable upticks, emphasizing the company’s diversified portfolio.

On a Consolidated basis, GAIL’s revenue reached Rs 1,33,500 crore in FY24, with PBT and PAT (excluding Non-controlling interest) registering impressive growth rates of 74% and 76% respectively. This consolidation underscores GAIL’s strategic positioning in the market.

Shri Sandeep Kumar Gupta, Chairman & Managing Director of GAIL, attributed this success to the company’s unwavering commitment to operational excellence. Despite challenges in Petrochemicals and Liquid Hydro-Carbons sectors, GAIL’s prudent management and robust physical performance were pivotal in achieving these milestones.

Furthermore, GAIL’s strategic investments are geared towards future growth. The approval of the C2/C3 liquid pipeline project signifies the company’s forward-looking approach, aiming to enhance feedstock availability, reduce energy consumption, and bolster polymer production.

GAIL’s formidable performance in FY 2024 not only underscores its financial prowess but also reaffirms its position as a frontrunner in the energy sector, poised for sustained growth and innovation.

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