GAIL clocks 25 per cent rise in Q1 net profit at Rs 2,724 crore
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
GAIL (India) Ltd on Tuesday reported a 25 per cent increase in net profit at Rs 2,724 crore for the April-June quarter of 2024-25, compared to the corresponding figure of Rs 2,177 crore in Q1 FY-24.
The company said that the increase in profit was mainly due to increased gas transmission volumes, increased domestic natural gas marketing volume, and improved natural gas marketing margins.
The gas major’s revenue from operations came in at Rs 33,692 crore in Q1 FY-25 as against Rs 32,227 crore in Q1 FY-24. Profit before tax (PBT) in Q1 FY-25 stood at Rs 3,642 crore as against Rs 1,889 crore in Q1 FY-24.
On a sequentially quarter basis, revenue from operations was higher at Rs 33,692 crore in Q1 FY-25 as against Rs 32,335 crore in Q4 FY-24. PBT registered a robust growth of 28 per cent to Rs 3,642 crore in Q1 FY-25 as against Rs 2,842 crore during Q4 FY-24.
On a consolidated basis, revenue from operations stood at Rs 34,822 crore in Q1 FY-25 as against Rs 32,833 crore during Q4 FY-24. PBT in Q1 FY-25 stood at Rs 4,114 crore as against Rs 3,099 crore in Q4 FY-24. PAT (excluding non-controlling interest) was Rs 3,183 crore in Q1 FY-25 as against Rs 2,469 crore in Q4 FY-24.
GAIL Chairman Sandeep Kumar Gupta said that the company has incurred a capital expenditure (capex) of about Rs 1,659 crore during the current quarter, mainly on pipelines, petrochemicals, equity to JVs, etc. which is about 21 per cent of the annual target of Rs 8,044 crore. He further stated that GAIL has advanced its net zero carbon target for scope-1 and scope-2 emissions to 2035 from the earlier date of 2040.
