NEW DELHI: State-owned fuel utility GAIL (India) Ltd on Tuesday reported a 56 per cent soar in its September quarter web revenue as bumper earnings from fuel transmission and advertising and marketing enterprise offset petrochem losses.
Standalone web revenue of Rs 2,404.89 crore in July-September, or Rs 3.66 per share, was 54.4 per cent greater than Rs 1,537.07 crore, or Rs 2.34 a share, revenue in the identical interval final 12 months, in response to the corporate’s inventory change submitting.
GAIL noticed pre-tax earnings from its mainstay fuel transportation enterprise soar 82 per cent to Rs 1,290.65 crore within the second quarter of the present fiscal. Additionally, its pre-tax earnings from the advertising and marketing of pure fuel jumped virtually 400 per cent to Rs 1,784.58 crore.
Losses within the petrochemical enterprise narrowed to Rs 160.61 crore from Rs 346.22 crore in July-September 2022.
Its income from operations dropped to Rs 31,882.62 crore in July-September from Rs 38,490.89 crore on decrease fuel costs.
In the course of the quarter, GAIL’s pure fuel transmission quantity stood at 120.31 million customary cubic meters per day within the second quarter of the present fiscal (2023-24) towards 116.33 mmscmd in Q1, the corporate mentioned in a press release.
Fuel advertising and marketing quantity stood at 96.96 mmscmd towards 98.84 mmscmds within the earlier quarter.
GAIL chairman and managing director Sandeep Kumar Gupta mentioned that through the quarter, the corporate has carried out nicely, particularly on the energy within the fuel transmission phase, which is able to proceed to carry out higher.
He mentioned efficiency through the quarter was constrained as a result of decrease realisation in polymers and LPG, that are anticipated to be higher going ahead.
Polymer and LPG manufacturing in Q2 was virtually flat.
The corporate, he mentioned, incurred a capex of round Rs 4,853 crore through the present half-year, primarily on pipelines, petrochemicals and fairness to joint ventures.
At an investor name after the earnings announcement, GAIL director (finance) Rakesh Kumar Jain mentioned the corporate hopes to exit the monetary 12 months in March 2024 with a fuel transmission quantity of 123-124 mmscmd. This compares to 107 mmscmd within the final monetary 12 months.
Standalone web revenue of Rs 2,404.89 crore in July-September, or Rs 3.66 per share, was 54.4 per cent greater than Rs 1,537.07 crore, or Rs 2.34 a share, revenue in the identical interval final 12 months, in response to the corporate’s inventory change submitting.
GAIL noticed pre-tax earnings from its mainstay fuel transportation enterprise soar 82 per cent to Rs 1,290.65 crore within the second quarter of the present fiscal. Additionally, its pre-tax earnings from the advertising and marketing of pure fuel jumped virtually 400 per cent to Rs 1,784.58 crore.
Losses within the petrochemical enterprise narrowed to Rs 160.61 crore from Rs 346.22 crore in July-September 2022.
Its income from operations dropped to Rs 31,882.62 crore in July-September from Rs 38,490.89 crore on decrease fuel costs.
In the course of the quarter, GAIL’s pure fuel transmission quantity stood at 120.31 million customary cubic meters per day within the second quarter of the present fiscal (2023-24) towards 116.33 mmscmd in Q1, the corporate mentioned in a press release.
Fuel advertising and marketing quantity stood at 96.96 mmscmd towards 98.84 mmscmds within the earlier quarter.
GAIL chairman and managing director Sandeep Kumar Gupta mentioned that through the quarter, the corporate has carried out nicely, particularly on the energy within the fuel transmission phase, which is able to proceed to carry out higher.
He mentioned efficiency through the quarter was constrained as a result of decrease realisation in polymers and LPG, that are anticipated to be higher going ahead.
Polymer and LPG manufacturing in Q2 was virtually flat.
The corporate, he mentioned, incurred a capex of round Rs 4,853 crore through the present half-year, primarily on pipelines, petrochemicals and fairness to joint ventures.
At an investor name after the earnings announcement, GAIL director (finance) Rakesh Kumar Jain mentioned the corporate hopes to exit the monetary 12 months in March 2024 with a fuel transmission quantity of 123-124 mmscmd. This compares to 107 mmscmd within the final monetary 12 months.
