On October 31, 2023: GAIL India Limited (BSE, NSE: GAIL) announced its Q2 2023-24 consolidated financial results, with Q2 Net Profit almost doubling YoY due to robust operating margins. The results have beat most analyst’s expectations, and for Q2 GAIL has shown a positive result.
Table of Content
Key Highlights
Here are the main highlights of the Q2 results of GAIL (India) Limited, displaying YoY and QoQ figures:
- Net Profit of the public-sector natural gas distributor stands at ₹2,442 Cr, a rise of 87% YoY. In the same quarter of the previous year, Q2 FY 22-23, this figure was at ₹1304.
- As per the PSU’s exchange filing, the Revenue from Operations went down about 15% and stood at ₹33,049 Cr. In Q2 FY 22-23, this stood at ₹38,728
- EBITDA saw an increase and was up 88%, at ₹3,580 Cr.
- EBITDA Margin was up 593 basis points to touch a percentage of 10.9%.
Additional Read: Q2 Results Dashboard
Q2 Volume Information
Based on the Q2 report, here are the volume-based results of GAIL (India) Limited:
- The volume of natural gas transmission stood at 120.31 MMSCMD in Q2 FY 23-24. This was an increase compared to that of the transmission volume in Q1.
- The gas marketing volume was at 96.96 MMSCMD, lower than that of the previous quarter.
- LHC sales were at 242 TMT and Polymer sales were at 168 TMT.
Management Commentary
The MD, and CEO of GAIL India Limited, Sandeep Kumar Gupta, had some insights on the results and these are shared below:
- The company has displayed a proficient performance in Q2. This is especially so in the segment of Gas Transmission which the company predicts will perform even more positively in the future.
- The performance during Q2 has witnessed constraints due to lower realisations in LPG and Polymers which are likely to have a more positive outlook in the coming months.
- The company has incurred a CAPEX of approximately ₹4,853 Cr in the half year ended 30 September 2023, and this was mainly on Petrochemicals, Pipelines, and Equity to Joint Ventures, etc.
Additional Read: GAIL Share price
About GAIL (India) Limited
GAIL (India) Limited (previously called Gas Authority of India Ltd.) is a central public sector company (public sector undertaking or PSU) that falls under the ownership of the Government of India’s Ministry of Petroleum and Natural Gas. The company comprises the segments of business in liquid hydrocarbon, natural gas, liquefied petroleum gas transmission, renewable energy including solar and wind, petrochemicals, city gas distribution, exploration and production, petrochemicals, electricity generation, and GAILTEL. In 2013, GAIL was conferred the MahaRatna status by the Government of India. There are just 11 other Public Sector Undertakings (PSUs) that enjoy this prestigious status amongst all Central PSUs.
GAIL is responsible for the ownership and operations of an approximately 13,722 km network of natural gas pipelines. It is presently executing approximately 6,000 km of its own pipeline projects and about 2,000 km via two JVs, as part of the National Gas Grid. The Petroleum and Natural Gas Regulatory Board has authorised the PSU to create a 1,755 km long pipeline along the Mumbai-Nagpur-Jharsuguda route.
Source: https://www.gailonline.com/IZFinancialResult.html#
