Gail India Q1 net dips 27% at Rs 655 cr

State-run gas utility Gail India today reported a 26.87 per cent decline in its net profit at Rs 655.84 crore for the first quarter ended June 30, 2009, over the same period last year.

The company had a net profit of Rs 896.87 crore in the same period last year, Gail India said in a filing to the Bombay Stock Exchange.

Net sales rose to Rs 6,021.42 crore during the quarter under review, against Rs 5,730.71 crore in the same quarter previous fiscal.

Gail India shares closed  1.92 per cent up at Rs 352. 20 on the Bombay Stock Exchange yesterday.