GAIL Q3FY25 effects: Profit rises 36% on repayment from LNG supplier
Country-owned gas application GAIL (India) Ltd on thursday reported a 36 per cent upward thrust in net income inside the december zone after a one-off benefit from compensation acquired from an overseas LNG provider for non-delivery of committed cargoes.
It published a standalone internet earnings of Rs 3,867.38 crore within the October-December duration of FY25 in comparison with Rs 2,842.62 crore in the 12 months-ago period, India's biggest gasoline transportation and advertising agency said in a stock change submitting.Sales from operations turned into almost unchanged at Rs 34,957.76 crore with all 3 predominant commercial enterprise segments -- natural gas and LPG transportation services, natural gas advertising and marketing and petrochemicals -- reporting almost the identical sales as the previous 12 months. The organization had an super earnings of Rs 2,440.03 crore as repayment obtained from a former unit of Russian energy large Gazprom.
GAIL had in december 2023 initiated criminal proceedings towards SEFE advertising and marketing & trading singapore Pte Ltd inside the london court of international Arbitration for non-transport of liquefied natural gas (LNG) under an extended-term contract.
It sought USD 1.817 billion in repayment for the default in shipping of committed cargoes with the aid of SEFE. In advance this month, it agreed to cease the arbitration after SEFE paid USD 285 million (Rs 2,440.03 crore).
GAIL had in 2012 signed a 20-yr deal to shop for as a whole lot as 2.85 million tonnes in step with annum of LNG with Russian energy large Gazprom.
The deal became signed with Gazprom advertising and singapore (GMTS), which on the time turned into a unit of Gazprom Germania, now known as SEFE. The Russian figure gave up ownership of SEFE after western sanctions had been imposed on moscow over its invasion of ukraine in 2022.
SEFE had stopped imparting LNG to the indian organization in june 2022 to satisfy its very own demand. It resumed substances in march 2023. GAIL had sought damages in the course of non-deliver.
"Consequent upon settlement settlement dated january 15, 2025 entered with one of the LNG supplier, which includes price of USD 285 million by way of LNG dealer to the corporation towards agreement of litigation for non-deliver of LNG cargoes all through FY 2022-23, the employer has acknowledged Rs 2,440.03 crore (USD 285 million) as an super income at some stage in the quarter and 9 months ended december 31, 2024," GAIL said.
Throughout the October-December quarter, GAIL's earnings earlier than tax from gas transportation commercial enterprise rose to Rs 1,370.29 crore from Rs 1,402.81 crore a yr lower back. Natural fuel advertising noticed a 53 according to cent bounce to Rs 2,880.98 crore. Petrochemical margins, however, shrank to Rs 4.68 crore from Rs 61.94 crore inside the October-December period 2023 and Rs 157.49 crore inside the preceding quarter of July-September 2024.
For the primary 9 months of the current fiscal year, net income rose by using 39 according to cent to Rs 9,263.29 crore.
The board of directors of the employer of their assembly on thursday declared an meantime dividend of Rs 6.50 in keeping with fairness percentage, amounting to Rs 4,273.81 crore. PTI ANZ Later, GAIL in a statement said in the course of the quarter underneath overview, the average natural gas transmission quantity stood at a 125.93 million wellknown cubic meters according to day as in opposition to 130.63 mmscmd in Q2 FY25. Gasoline marketing quantity stood at 103.46 mmscmd as against ninety six.60 mmscmd within the preceding region.Liquid hydrocarbon income stood at 282,000 tonnes as against 253,000 tonnes and polymer income stood at 221,000 tonnes as towards 226,000 tonnes in comparison to previous zone.
GAIL Chairman and handling director Sandeep Kumar Gupta said at some point of the zone, GAIL accounted for an outstanding income of USD 285 million from SEFE advertising & trading singapore Pte Ltd as agreement closer to withdrawal of arbitration court cases.
