GAIL Net Profit Increased to Rs 3288 Crore in Q3 of 2021-22

GAIL (India) Limited posted Rs 3,288 crore net profit in the third quarter of the current financial year, which is 15 per cent more when compared with Rs 2,863 crore in the previous quarter, Ministry of Petroleum & Natural Gas said.

GAIL posted 20 per cent increase in revenue from operations to Rs 25,776 crore in Q3 FY22 as against Rs 21,515 crore in Q2 FY22. Profit before tax increased by 17 per cent in Q3 FY22 to Rs 4,308 crore as against Rs 3,682 crore in Q2 FY22.

Revenue from operations for the nine-month period ended December 31, 2021 increased by 57 per cent to Rs 64,678 crore as compared to Rs 41,189 crore in the corresponding period of the previous year.

Profit before tax registered a growth of 166 per cent and stood at Rs 10,044 crore upto Q3 FY22 as against Rs 3,774 crore upto Q3 FY21.

Profit after tax increased by 158 per cent to Rs 7,681 crore upto Q3 FY22 as against Rs 2,983 crore upto Q3 FY21 mainly on account of improved gas marketing spread, better product prices, better physical performance in gas marketing and transmission segment, according to a statement released by the Ministry of Petroleum & Natural Gas.

On a consolidated basis, the revenue from operations increased by 20 per cent in Q3 FY22 to Rs 26,176 crore vs. Rs 21,782 crore in Q2 FY22.

Profit before tax in Q3 FY22 was up by 29 per cent to Rs 4,820 crore vs. Rs. 3,728 crore in Q2 FY22 and profit after tax in Q3 FY22 increased by 31 per cent to Rs 3,781 crore vs. Rs 2,883 crore in Q2 FY22.