GAIL India net profit drops 10 per cent in September quarter
Net profit for the quarter was Rs 984 cr, 10% lower than Rs 1,094 cr in the same period last fiscal, GAIL CMD BC Tripathi said.
By PTI | Updated:
NEW DELHI: State-owned gas utility GAIL India Ltd today reported 10 per cent drop in net profit for the July-September quarter on the back of higher fuel subsidy outgo as well as fall in gas transmission volumes.
Net profit for the quarter was Rs 984 crore, 10 per cent lower than Rs 1,094 crore in the same period last fiscal, GAIL Chairman and Managing Director B C Tripathi told reporters here.
"Our outgo on LPG subsidy increased 39 per cent to Rs 786 crore from Rs 567 crore," he said.
Also, fall in Reliance Industries' eastern offshore KG-D6 fields led to a drop in volumes the company transported, he said.
Net profit for the quarter was Rs 984 crore, 10 per cent lower than Rs 1,094 crore in the same period last fiscal, GAIL Chairman and Managing Director B C Tripathi told reporters here.
"Our outgo on LPG subsidy increased 39 per cent to Rs 786 crore from Rs 567 crore," he said.
Also, fall in Reliance Industries' eastern offshore KG-D6 fields led to a drop in volumes the company transported, he said.
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