State-run gas supplier GAIL on Monday reported a 45 per cent decline in consolidated net profit at Rs. 1,792 crore in the first quarter (April-June) of 2023-24 (FY24) against Rs. 3,250 crore in the year-ago period.
Sequentially, its net profit rose 179 per cent, up from Rs. 604 crore. This was mainly on account of increased gas marketing and transmission volumes and increased transmission tariff realisation.
In Q1FY24, the company’s consolidated revenue from operations fell 13 per cent to Rs. 32,848 from Rs. 37,942 crore in the year-ago period.
