GAIL (India) declines after weak Q2 numbers

GAIL (India) lost 1.64% to Rs 302.40 at 9:21 IST on BSE after net profit dropped 66.19% to Rs 440.51 crore on 0.33% growth in total income to Rs 14466.68 crore in Q2 September 2015 over Q2 September 2014.

The result was announced after market hours yesterday, 3 November 2015.

Meanwhile, the S&P BSE Sensex was up 192.41 points or 0.72% at 26,783.

On BSE, so far 24,000 shares were traded in the counter as against average daily volume of 53,000 shares in the past two weeks.

The stock hit a high of Rs 304.35 and a low of Rs 297.80 so far during the day. The stock had hit a 52-week low of Rs 260.25 on 25 August 2015. The stock had hit a 52-week high of Rs 535.50 on 3 November 2014.

There was no subsidy sharing burden for GAIL (India) in Q2 September 2015. There was no subsidy sharing burden for the company during the corresponding quarter of the previous year.

GAIL (India) is India's leading natural gas company with a presence along the entire hydrocarbon value chain spanning E&P, LNG, pipelines, LPG, petrochemicals, city gas distribution etc. The Government of India (GoI) holds 56.11% stake in GAIL (India) (as per the shareholding pattern as on 30 September 2015).

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