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GAIL (India) falls 6% as Q4 profit misses forecast

The company posted net profit of Rs 260 crore in Q4FY17 against Rs 832 crore in Q4FY16.

SI Reporter  |  Mumbai 

GAIL (India) dipped 6% to Rs 368 on BSE at 09:38 am after the company reported 69% year-on-year (YoY) decline in its March 2017 (Q4FY17) net profit to Rs 260 crore. The company had reported profit of Rs 832 crore in the same quarter last fiscal. “The fall in net profit was due to impairment of investments of Rs 783 crore in the Ratnagiri Gas and Power Pvt Ltd. The quarterly profit without the impact of the above impairment is Rs 1,043, which is higher by 25% on YoY basis,” GAIL (India) said in a release. Analyst on an average had expected profit of Rs 1,136 crore ...

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First Published: Tue, May 23 2017. 09:43 IST
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