GAIL has reported a substantial rise in its revenue and profits for the nine months ending 31 December 2024.

The company’s revenue from operations reached Rs1.01trn ($11.65bn), a marked increase from Rs983.04bn during the same period in fiscal year 2023–24 (FY23–24).

This growth is primarily due to exceptional income from the settlement with Singapore-based SEFE Marketing and Trading Singapore (SMTS), along with higher gas transmission volumes, increased liquid hydrocarbon realisations and improved petrochemical performance.

Profit before tax (PBT) for the period soared by 39% to Rs121.23bn, compared with Rs87.13bn for the same period the previous year.

Profit after Tax (PAT) increased by 39% to Rs92.63bn, compared with Rs66.6bn in the same period last year.

On a quarter-on-quarter basis, GAIL’s revenue from operations grew by 6% to Rs349.58bn in the third quarter (Q3) of FY2024–25, up from Rs329.31bn in Q2 FY2024–25.

PBT increased by 46% to Rs50.29bn in Q3 FY2024–25, compared with Rs34.53bn in the previous quarter. PAT rose by 45% to Rs38.67bn in Q3 FY2024–25, up from Rs26.72bn in the previous quarter.

The average natural gas transmission volume during the quarter was 125.93 million metric standard cubic metres per day (mmscm/d), with gas marketing volume at 103.46mmscm/d.

Gas marketing volume reached 103.46mmscm/d, up from 96.60mmscm/d in the previous quarter.

Consolidated revenue from operations for the nine months stood at Rs1.05trn, an increase from the previous year’s Rs1trn.  

For the nine months ending 31 December 2024, PBT increased by 35% to Rs128.56bn, compared with Rs 94.96bn in the same period last year.

PAT (excluding non-controlling interest) rose by 34% to Rs99.58bn.

GAIL chairman & managing director Sandeep Kumar Gupta highlighted an exceptional income of $285m from SMTS as a settlement towards the withdrawal of arbitration proceedings.

The company has declared an interim dividend of 65% for FY2024–25, equating to Rs6.50 per share.