Rediff.com » Business
GAIL India net profit drops 10%
Source: PTI October 26, 2012 15:45 IST
State-owned gas utility GAIL India Ltd on Friday 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 (Rs 9.84 billion), 10 per cent lower than Rs 1,094 crore (Rs 10.94 billion)
in the same period last fiscal, GAIL chairman and managing director B C Tripathi told reporters in New Delhi.
"Our outgo on LPG subsidy increased 39 per cent to Rs 786 crore (Rs 7.86 billion) from Rs 567 crore (Rs 5.67 billion)," he said.
Also, fall in Reliance Industries' eastern offshore KG-D6 fields led to a drop in volumes the company transported, he said.
Source:
PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
Recommended by Rediff.com
Markets down amid weak Asian cues
Oil Min approves RIL's plan to raise KG-D6 production
Kingfisher readies revival plan; mgmt, DGCA in talks
ONCE AGAIN! Petrol, diesel to cost more
Markets slip amid weak European cues
© 2024 Rediff.com