In its attempt to augment revenue to double and make profit up by 50 per cent in the next five years, public sector oil and gas company GAIL has laid out certain plans. It is added by capex of Rs 1 lakh crore in new pipelines, city gas and petrochemicals projects.As per the information provided, GAIL recorded a profit of Rs 6,000 cr on a revenue of Rs 75,000 cr in the last financial year. The oil firm expects contributions from transmission and gas marketing to rise in its overall revenue over next five years.
The public sector major has plans of spending about Rs 40-45,000 cr in laying 7,000 km of new gas pipelines. It also has plans to spend Rs 10,000 crore in expanding petrochemicals capacity and Rs 40,000 crore in building new city gas infrastructure.
Transmission gas marketing and petrochemicals contribute almost equally to the company’s revenue at the moment. The priority of the company would be to raise employee satisfaction besides growing business so that there is more loyalty and motivation for them.