India's leading natural gas producer, GAIL has status Maharatna has earned a whopping 289.27% growth in Q4FY24 net profit to Rs 2,468.71 crore compared to Rs 634.18 crore in the same quarter a year ago. Apart from this, the company has also signed a 14-year long-term deal with Cool Company for a newly built LNG carrier.
GAIL Earnings:
During the quarter, consolidated Revenue from Operations on a quarterly basis stood at Rs 32,833 crore in Q4 FY24 as against Rs 34,768 crore in Q3 FY24. PBT in Q4 FY24 stood at Rs 3,099 crore as against Rs 4,075 crore in Q3 FY24. PAT (excluding Non-controlling interest) was Rs 2,469 crore in Q4 FY24 as against Rs 3,195 crore in Q3 FY24. While GAIL reported revenue and PAT of Rs 33,264.06 crore and Rs 634.18 crore in Q4 of FY23.
For full-year FY24, Revenue from Operations stood at Rs 1,33,500 crore in FY24 as against Rs 1,45,875 crore during FY23. PBT in FY24 stood at Rs 12,595 crore (up by 74%) as against Rs 7,256 crore in FY23. PAT (excluding Non-controlling interest) was Rs 9,899 crore in FY24 (up by 76%) as against Rs 5,616 crore in FY23.
Also, in the fiscal, Natural Gas transmission volume registered an increase of 12% to 120.46 MMSCMD as against 107.28 MMSCMD in FY23. Gas marketing volume stood at 98.45 MMSCMD in FY24 as against 94.91 MMSCMD in FY23. LHC sales registered an increase of 7% to 998 TMT as against 929 TMT & Polymer sales jumped up by 97% to 787 TMT as against 399 TMT in comparison to the previous year.
Sandeep Kumar Gupta, Chairman & Managing Director, GAIL said that the robust performance during FY 2024 is primarily driven by better physical performance across all major segments, despite lower prices in Petrochemicals and Liquid Hydro-Carbons. He also stated that the Company has incurred a Capex of Rs 11,426 crore during the FY24.
He further stated that GAIL's Board approved the laying of the C2/C3 liquid pipeline from Vijaipur to Auraiya having an estimated Project Cost of Rs 1,792 Crores with a commissioning period of 32 months. The project will augment feedstock availability with additional polymer production at Pata Petrochemical Complex, and reduce energy consumption and carbon footprint.
GAIL Big Deal:
In its regulatory filing on May 16, GAIL said that taking another step towards expanding its LNG carrier fleet, the company has entered into a 14-year Time Charter Party with Cool Company Ltd (NYSE: CLCO / CLCO.OL, "CoolCo"), a pure play LNG shipping company, for a newbuild LNG carrier.
The time charter for the LNG carrier will commence in early 2025 and GAIL will have the option to extend the charter by two additional years beyond the firm 14-year period.
Currently, GAIL has four LNG carriers in its fleet.
S Bairagi, Executive Director (Marketing - Shipping & International LNG) GAIL, said, "GAIL is looking forward to taking delivery of the LNG carrier as part of its ambitious plans for meeting the large and growing demand for natural gas in India."
Meanwhile, Richard Tyrrell, CEO of CoolCo, commented, "We are delighted to announce a long-term charter with GAIL, the leading gas company in one of the highest growth markets for LNG. The leading-edge technology and best-in-class economic and environmental performance of this newbuild LNG carrier secure GAIL's ability to transport clean-burning LNG in a highly efficient and cost-effective manner for many years to come."
GAIL Share Price:
On BSE, GAIL shares ended at Rs 195.55 apiece, down by 2.61% with a market cap of Rs 1,28,576.07 crore. The stock's 52-week high and low are at Rs 213.70 and Rs 102.95 apiece respectively.
Currently, it has a dividend yield of 2.81%. In the last 12 months, the company paid up to Rs 5.50 dividends per share. As per Trendlyne data, GAIL has paid up to 47 dividends since September 2001.
GAIL (India) Limited, a Maharatna PSU, is India's leading natural gas company with diversified interests across the natural gas value chain of trading, transmission, LPG production & transmission, LNG shipping, LNG re-gasification, petrochemicals, city gas, E&P, etc.
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