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GAIL (India) Ltd. has announced impressive financial results for the first quarter of the fiscal year, showcasing a significant surge in net profit and revenue. The company's standalone net profit for the quarter reached ₹2,724 crore, marking a robust 93% increase compared to the same period last year, when it stood at ₹1,412 crore. This growth underscores the company's strong financial performance and its ability to navigate a challenging market environment.
The positive trend extends to revenue as well. GAIL's revenue from operations climbed to ₹33,692 crore during the quarter, a slight increase from the ₹32,227 crore recorded in the same period last year. This sustained revenue growth indicates a strong demand for GAIL's products and services, particularly in the energy and petrochemical sectors. The company's focus on strategic investments and operational efficiency has played a crucial role in achieving these positive results.
GAIL's commitment to capital expenditure remains strong. Sandeep Kumar Gupta, the company's Chairman and Managing Director, revealed that GAIL invested approximately ₹1,659 crore in capex during the quarter. This investment primarily focused on enhancing its pipeline infrastructure, expanding its presence in the petrochemical sector, and contributing to joint ventures. Gupta emphasized that this capex expenditure represents about 21% of the company's annual capex target of ₹8,044 crore. This significant investment underscores GAIL's dedication to long-term growth and sustainability, with a particular emphasis on strengthening its core operations and exploring new opportunities in the energy sector.
Looking ahead, GAIL has demonstrated a commitment to environmental sustainability by accelerating its Net Zero carbon target for scope-1 and scope-2 emissions to 2035, moving it forward from its previous target of 2040. This ambitious goal reflects the company's proactive approach to mitigating its environmental impact and aligning with global efforts to combat climate change. The company's commitment to sustainability is expected to further strengthen its brand image and attract investors seeking environmentally conscious investments.