Comments
GAIL (India) Ltd reported a 66 per cent drop in net profit to ₹440.51 crore during the second quarter of the current fiscal 2015-16. The net profit in the same quarter was ₹ 1,302.9 crore.
The company’s net profit suffered from a seven-time increase in inventory loss, which grew to ₹ 701.19 crore against ₹ 115.77 crore in the same quarter last year.
During the quarter, net sales remained almost flat at ₹14,164.92 crore (₹14,129.72 crore). GAIL’s petrochemicals business suffered during the quarter and incurred a loss before interest and tax of ₹236.94 crore (₹155.21 crore).
The profit before interest and tax from the natural gas marketing also fell around 58 per cent to ₹192.53 crore during the quarter against the same quarter last year.
On Tuesday, GAIL’s shares closed 0.82 per cent lower on the BSE at ₹307.45.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.