GAIL (India) Limited reported Revenue from Operations of Rs 1,44,302 crore in FY23 as against Rs 91,646 crore in FY22. Profit after Tax (PAT) in FY23 stood at Rs 5,302 crore as against Rs 10,364 crore in FY22. Shri. Sandeep Kumar Gupta, CMD, GAIL said that he is expecting domestic natural gas consumption to increase by 6-7 percent in the current financial year.
CMD, GAIL today briefed the media at the Annual Press Conference on GAIL’s audited financial results. Gupta said, “We definitely see this year to be very promising as far as the natural gas consumption is concerned.” The rise in demand will be driven by lower gas prices and the resumption of Liquefied Natural Gas (LNG) supplies from a former unit of Russia’s Gazprom, said the GAIL CMD.
Gas demand in the previous financial year (2022-23) witnessed a decline of 6 percent year-on-year at 60,311 MMSCM because of the disruption in LNG supplies and high gas prices. India meets about half of its natural gas consumption through imports.
