State-run GAIL on Thursday reported a multi-fold jump y-o-y in its consolidated net profit at ₹2,474 crore during Q4 FY24, aided by higher numbers from transmission services, liquid hydrocarbons and petrochemicals. However, the country’s largest gas utility’s net profit on a sequential basis fell 23 per cent.

GAIL’s consolidated total income stood at ₹33,070 crore in Q4 FY24 compared to ₹35,182 crore and ₹33,811 crore in Q3 FY24 and Q4 FY23, respectively.

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GAIL CMD Sandeep Kumar Gupta said the robust performance during FY24 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 ₹11,426 crore during FY24.

During Q4 FY24, natural gas transmission volume stood at 123.65 million standard cubic meters per day (MSCMD) against 121.54 MSCMD in Q3 FY24. Gas marketing volume stood at 99.90 MSCMD against 98.14 MSCMD.

LHC sales up

LHC (liquid hydrocarbons) sales registered an increase of 5 per cent y-o-y to 261 thousand tonnes (TT) in Q4 Fy24. Polymer sales jumped up by 13 per cent y-o-y to 242 TT.

For FY24, GAIL’s consolidated net profit rose 77 per cent y-o-y to ₹9,903 crore. Consolidated total income, however, fell to ₹1.35 lakh crore in FY24 from ₹1.47 lakh crore in FY23.

During the fiscal year, the Maharatna’s natural gas transmission volume registered an increase of 12 per cent y-o-y to 120.46 MSCMD. Gas marketing volumes stood at 98.45 MSCMD in FY24 against 94.91 MSCMD in FY23.

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LHC sales registered an increase of 7 per cent to 998 TT in FY24 against 929 TT in FY23, while polymer sales jumped up by 97 per cent y-o-y to 787 TT.

Gupta said that GAIL’s Board has approved laying of C2/C3 liquid pipeline from Vijaipur to Auraiya having an estimated project cost of ₹1,792 crore with a commissioning period of 32 months. The project will augment feedstock availability with additional polymer production at Pata Petrochemical Complex, reduce energy consumption and carbon footprint, he added.