GAIL’S PAT jumps to Rs 1,530 crore in Q1 FY 22

GAIL (India) Limited recorded turnover of Rs 17,352 crore in Q1 FY22 vis a vis Rs 12,060 crore in Q1 FY21 while Profit before Tax (PBT) in Q1 FY22 stood at Rs 2,054 crore as against Rs 356 crore in Q1 FY21.

The Profit after Tax (PAT) stood at Rs 1,530 crore in Q1 FY22 as against Rs. 256 crore in Q1 FY21. The increase in the profits is mainly attributable to better physical performance in Natural Gas Marketing & Transmission, improved margins in gas marketing due to favourable market conditions and better price realisation in Petrochemicals and Liquid Hydrocarbons.

During the quarter, Natural Gas Transmission and Natural Gas Marketing volume increased by 19 per cent and 18 per cent respectively as compared with corresponding quarter in previous year. The volume growth is due to normalcy of the business activities as against nationwide lockdown during Q1 Fy21.manoj Jain, Chairman & Managing Director, GAIL stated that the company is focussed on development of National Gas Grid and currently GAIL, along with its JVS, is executing Pipeline Projects of around 8,000 kms with investment of around Rs 38,000 crore.

GAIL is also expanding Polypropylene production capacity by setting up 500 KTA PDHPP Unit at Usar (Maharashtra) and 60 KTA PP unit at Pata (Uttar Pradesh) with an approximate investment of Rs 10,000 crore. During current financial year, GAIL has capex plan of Rs 6,600 crore. Jain further added that GAIL is exploring possibilities for expanding its footprint in renewables.