GAIL (India) Reports 77.5% Jump in Q1 Net Profit

GAIL (India) Ltd, the largest gas transportation and distribution firm in the nation, reported a 77.5% increase in net profit for the June quarter. Net profit surged to Rs 3,183.35 crore, driven by doubled earnings in the gas marketing business. Revenue from operations rose to Rs 33,692 crore.

GAIL (India) Ltd, the nation's largest gas transportation and distribution firm, reported an impressive 77.5 percent surge in net profit for the June quarter. This rise was largely driven by doubled earnings from the gas marketing business.

The consolidated net profit for April-June stood at Rs 3,183.35 crore, up significantly from Rs 1,792.99 crore in the same period last year, according to the company's stock exchange filing.

Earnings from the gas transportation business increased by 40 percent, while pre-tax earnings from natural gas transmission rose to Rs 1,446.87 crore. Notably, earnings from natural gas marketing soared to Rs 2,036.13 crore.

Revenue from operations climbed to Rs 33,692 crore in Q1 FY-25 compared to Rs 32,227 crore in Q1 FY-24.

Sandeep Kumar Gupta, Chairman & Managing Director of GAIL, noted that the company incurred a capex of about Rs 1,659 crore during the current quarter, primarily on pipelines, petrochemicals, and equity to joint ventures. This represents about 21 percent of the annual target of Rs 8,044 crore.

Gupta further highlighted that GAIL has advanced its net zero carbon target for scope-1 and scope-2 emissions to 2035, five years ahead of the earlier 2040 deadline.

(With inputs from agencies.)