GAIL net profit dips 38% in January-March quarter
State gas utility GAIL India Ltd today reported 38 per cent drop in its March quarter net profit because of higher fuel subsidy outgo.
By PTI | Updated:
NEW DELHI: State gas utility GAIL India Ltd today reported 38 per cent drop in its March quarter net profit because of higher fuel subsidy outgo.
The net profit in January-March at Rs 483 crore was down 38 per cent from Rs 783 crore a year ago, GAIL Chairman and Managing Director B C Tripathi told reporters here.
"Our subsidy outgo rose 51 per cent to Rs 3,183 crore in 2011-12 as against Rs 2,111 crore in the previous year," he said.
Sales rose 18 per cent to Rs 8,894 crore.
The net profit in January-March at Rs 483 crore was down 38 per cent from Rs 783 crore a year ago, GAIL Chairman and Managing Director B C Tripathi told reporters here.
"Our subsidy outgo rose 51 per cent to Rs 3,183 crore in 2011-12 as against Rs 2,111 crore in the previous year," he said.
Sales rose 18 per cent to Rs 8,894 crore.
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