 "GAIL's profit declines 29% to Rs 808 cr in Q1, natural gas trading dents")
New Delhi: State-owned gas utility GAIL India Ltd today reported 29 percent drop in June quarter net profit on lower margins from natural gas trading.
Net profit in April-June quarter at Rs 808.17 crore was 28.7 percent lower than Rs 1,133.78 crore in the same period a year ago, the company said in filings to stock exchanges.[caption id=“attachment_986011” align=“alignleft” width=“380”] Low profit for GAIL. Reuters[/caption]
The net profit fell despite its outgo on fuel subsidy remaining unchanged at Rs 700 crore. Sales rose 16 percent to Rs 12,855.64 crore.
While profit from natural gas transmission was marginally down to Rs 553.83 crore, the same from natural gas trading fell to Rs 302.53 crore from Rs 495.64 crore in Q1 last fiscal.
Also, LPG and liquid hydrocarbons segment recorded a loss before interest and tax of Rs 10.93 crore as against a profit before interest and tax of Rs 437.27 crore in the same period a year ago.
PTI
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
