GAIL net profit slips 38% to Rs 483.34 cr

NEW DELHI: GAIL Ltd on Wednesday said its net profit for the quarter ended March 31, 2012, dropped 38 percent to Rs 483.34 crore from Rs 783.07 crore in the year-ago period.

Total Income has increased to Rs 10718.28 crore in the fourth quarter from Rs 8961.41 crore for the March 2011 quarter, the company said in a BSE filing.

The Group has posted a Net Profit after Taxes, Minority Interest and Share of Profit of Associates of Rs. 4443.61 crore for the year ended March 31, 2012 as compared to Rs. 4020.97 crore for the year ended March 31, 2011.

Total Income has increased from Rs. 35664.08 crore for the year ended March 31, 2011 to Rs. 44664.01 crore for the year ended March 31, 2012.

The GAIL board recommended a dividend of Rs 5.70 per equity share of Rs 10 each which is subjected to approval of shareholders in the Annual General Meeting.

Shares of GAIL Ltd closed 1.7% lower at Rs 323.80. The stock has hit an intraday low of Rs 320.55 and a high of Rs 334.