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Gail India logs a whopping 87% yoy growth in Q2 PAT to Rs2,863cr as performance improves across segments
State-owned Gail India reported a standalone net profit of Rs2,863cr in the quarter ending September 2021 (Q2FY22) compared to Rs. 15.30 billion of Q2FY21 – rising by a whopping 87% yoy. On a quarterly basis, standalone Turnover increased by 24% to Rs. 214.77 billion in Q2 FY22 as against Rs. 173.52 billion in Q1 FY22.
In the quarter, the physical performance improved across all segments. Natural Gas Transmission increased to 114.32 MMSCMD in Q2 FY22 as against 107.66 MMSCMD in Q1FY22, up by 6%. Natural Gas Marketing increased to 97.72 MMSCMD during the quarter as against 95.95 MMSCMD in Q1 FY22, up by 2%. Petrochemical production sales were at 221 TMT in the quarter as against 138 TMT in Q1 FY 22, clocking an increase of 60%.
Manoj Jain, Chairman & Managing Director, GAIL informed that during the H1 FY22, GAIL has incurred a Capex of Rs. 31.80 billion mainly on Pipelines, Equity and Petrochemicals etc.
On a consolidated basis, Turnover in Q2 FY22 was Rs. 217.39 billion in comparison to Rs. 175.51billion in Q1 of FY22, up by 24 %. The PBT in Q2 FY22 was Rs. 37.28 billion vs. Rs. 25.40 billion in Q1 FY22, up by 47 %. The PAT in Q2 FY22 is Rs. 28.83 billion vs. Rs. 21.38 billion in Q1 FY22, up by 35%.
The company registered its highest ever Half Yearly Turnover and profit in H1 FY 22, clocking a turnover of Rs. 388.29 billion as against Rs 256.71 billion in the last fiscal, an increase of 51%. The Profit before Tax increased by 201% to Rs 57.36 billion vis a vis Rs 19.07 billion in H1 of previous year. Profit after Tax also jumped by 194% to Rs 43.93 billion for the half year as against Rs 14.95 billion in H1 FY 21.
He stated that performance of all segments of the company have improved significantly during the quarter and further added that a sustainable future performance is expected.
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