GAIL Q2 Results FY2023, PAT at Rs. 1537 crores

On 4th November 2022, GAIL announced its quarterly results for the second quarter of FY2023.
 

Q2FY23 Performance updates:

-  Revenue from Operations reported at Rs. 38,491 crores in Q2 FY23 as compared to Rs 37,572 crores in Q1 FY23. 
- PBT stood at Rs 1,876 crores in Q2 FY23 as against Rs 3,894 crores in the previous quarter 
- PAT stood at Rs 1,537 crore as compared to Rs 2,915 crore in the previous quarter

Business Highlights:

- During the quarter, Natural gas transmission volume stood at 107.71 MMSCMD in Q2 FY23 as against 109.47 MMSCMD in Ql FY23. 
- Gas marketing volume stood at 92.54 MMSCMD as against 100.84 MMSCMD in the previous quarter.
- LHC sales stood at 231 TMT as against 220 TMT & Polymer sales stood at 108 TMT as against 109 TMT in comparison to the previous quarter

Commenting on the results, Shri Sandeep Kumar Gupta, Chairman & Managing Director, GAIL said the company has incurred a Capex of around Rs 3,970 crores during the current half year mainly on Pipelines, Petrochemicals, Equity to JVs, etc. which is 53% of the annual target. He further added that GAIL has been declared a successful Resolution Applicant by the Committee of Creditors for acquiring JBF Petrochemical Limited through the Corporate Insolvency Resolution Process. With this, the company will further expand its presence in the southern part of the country.
 

The GAIL share price went up by 1.75%