GAIL (India) Ltd reported revenue from operations of Rs 144,302 crores in 2022-23 as against Rs 91,646 crore the previous fiscal, a 57 percent year-on-year growth and its highest ever.
Profit before Tax (PBT) in 2022-23 stood at Rs 6,584 crores as against Rs 13,590 crores in 2021-22. Accordingly, Profit after Tax (PAT) in 2022-23 stood at Rs 5,302 crores as against Rs 10,364 crores in 2021-22. Sandeep Kumar Gupta, Chairman, and Managing Director, of GAIL, said that the Company has incurred its highest ever capital expenditure of Rs 9,100 crore during 2022-23 mainly on Pipelines, Petrochemicals, and Equity to JVs, which is 15 percent higher than the annual target of Rs 7,918 crore.
He stated that the company has successfully implemented Unified Tariff effective April 1, 2023, which will help India to achieve the ‘One Nation One Grid One tariff’ model and also boost gas consumption in distant areas.
GAIL (India) Limited is a central public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. It has various business segments like natural gas, liquid hydrocarbon, liquefied petroleum gas transmission, petrochemical, city gas distribution, renewable Energy including Solar & Wind, exploration and production, Petrochemicals, GAILTEL, and electricity generation. GAIL was given the Maharatna status on 1 Feb 2013 by the Government of India. Only 10 other Public Sector Undertakings (PSUs) enjoy this coveted status amongst all Central PSUs.
GAIL owns and operates a network of around 13,722 km of natural gas pipeline and currently executing around 6,000 km of pipeline projects of its own and about 2,000 km through two JVs, as part of the National Gas Grid. PNGRB has authorized the PSU to create a 1,755 km long Mumbai-Nagpur-Jharsuguda Pipeline.
GAIL (India) Limited is India’s leading natural gas company with diversified interests across the natural gas value chain. GAIL is also expanding its presence in renewable energy like Solar, Wind, and Biofuel.
(With inputs from agencies)
