GAIL Q3 Results 2022: GAIL India Limited Posts Rs 3,288 Crore Net Profit in Third Quarter

GAIL Q3 Results 2022: GAIL (India) Limited has announced its Q3 results for FY22, and the company has reported a net profit of Rs 3,288 crore. This is an increase of 15% when compared to the last year. GAIL’s Chairman and Managing Director B C Tripathi said that this performance is due to “the sustained focus on core business activities and improvement in operating efficiencies.”

The financial performance of GAIL, India’s largest gas utility and pipeline company with over 12 thousand km of transmission pipelines in 24 states across North-East region has been impressive. The Q3 FY22 revenues outperformed the previous quarter by 20% to reach an high figure of Rs 25,776 crore during this period while profit before tax also increased 17%.

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The company reported a 57% increase in revenue for the nine-month period ending December 31, 2021. This amounts to approximately Rs 64,678 crores as compared with just over Rs 41,189 crore during similar time last year.

The company’s profits have grown 166% and they were at Rs 10,044 crore up until Q3 FY22 as opposed to just Rs 3,774 crore rupees same period last year.

The increase in profit after tax for the third quarter was 158% higher than last year’s figure. This is due to improved gas marketing spread, better product prices and physical performance of companies involved with transmission or storage systems that allow them access more energy from their fields.

The company’s revenue from operations increased by 20% in Q3 FY22 to Rs 26,176 crore vs. Rs 21,782 during the same period last year.